Standard&Poor's Ratings Services assigned its 'AA' rating and stable outlook to Cedar Hill, Texas' series 2014 combination tax and revenue certificates of obligation and affirmed its 'AA' rating, with a stable outlook, on the city's existing general obligation (GO) debt based on Standard&Poor's local GO criteria, published Sept. 12, 2013, on RatingsDirect. The city's ad valorem tax pledge secures the refunding bonds, and an ad valorem tax pledge and limited utility system net revenue pledge secure the certificates. Officials intend to use bond proceeds to finance various drainage, roadway, and fire department needs. The rating reflects our opinion of the following factors for the city, specifically its: Very strong budgetary flexibility with fiscal 2012 audited reserves
