S&P Global Ratings assigned its 'AAA' long-term rating to West University Place , Texas' anticipated $10.5 million series 2025 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 additional secured by a limited pledge of $1,000 of the surplus net revenues of the city's water and sewer system. Given the limited revenue pledge, we rate the certificates based on the city's ad valorem pledge. The series 2025 CO proceeds will be used to fund water
