S&P Global Ratings assigned its'AAA'long-term rating to West University Place , Texas'anticipated $52.45 million series 2026 certificates of obligation (CO). At the same time, S&P Global Ratings affirmed its'AAA'long-term rating on the city's previously issued general obligation (GO) and CO bonds. The outlook is stable. Revenue from a limited ad valorem tax levied on taxable property in the city secures the CO and GO bonds. The COs are additionally secured by a limited pledge of $1,000 of the surplus net revenues of the city's water and sewer system. Given the de minimis revenue pledge, we rate the certificates based on the city's ad valorem pledge. We do not differentiate between the city's limited-tax GO debt
