S&P Global Ratings assigned its 'AAA' long-term rating to Irving , Texas' approximately $25.8 million series 2025 general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the city's GO debt and certificates of obligation (COs) outstanding. The outlook is stable. The rating reflects the application of our criteria " Methodology For Rating U.S. Governments ," published Sept. 9, 2024, on RatingsDirect. Revenue from Irving's ad valorem tax, levied within the limits prescribed by law on all taxable property within the city, secures its GO bonds, COs, and tax notes. Proceeds from the 2025 bonds will fund various public improvements throughout the city. The series 2024 certificates are additionally secured by surplus revenue
