S&P Global Ratings assigned its 'AAA' rating to Lewisville , Texas's approximately $16.4 million series 2025 general obligation (GO) refunding and improvement bonds. At the same time, we affirmed our 'AAA' rating on the city's GO bonds and certificates of obligation (COs). The outlook is stable. The ratings reflect the application of our methodology for rating U.S. governments , published Sept. 9, 2024, on RatingsDirect. The city's GO bonds and COs are secured by an annual ad valorem tax levied, within the limits prescribed by law, on all taxable property within the city. Despite state statutory tax-rate limitations, we do not differentiate between the city's limited-tax debt and general creditworthiness because the ad valorem tax is not derived from a
