Summary: Cedar Hill, Texas; General Obligation

S&P Global Ratings assigned its 'AA' rating to Cedar Hill, Texas' approximately $15.585 million series 2023 general obligation (GO) bonds and roughly $6.735 million series 2023 combination tax and revenue certificates of obligation. At the same time, S&P Global Ratings affirmed its 'AA' rating on the city's existing limited-tax GO bonds and certificates of obligation. The outlook is stable. A limited ad valorem tax, levied on all taxable property within the city, secures the limited-tax GO bonds and certificates. A limited pledge of surplus net revenue from the city's waterworks-and-sewer system additionally secures the certificates. Due to the limited revenue pledge, we rate the certificates based on Cedar Hill's ad valorem pledge. The maximum allowable ad valorem tax rate for

...Most recent --Historical information-- 2021 2020 2019 Strong economy Projected per capita effective buying income (EBI) (%) of U.S. 85.4 Market value per capita ($) 98,353 Population 53,409 53,689 53,096 County unemployment rate(%) 5.6 Market value ($000) 5,252,924 4,151,086 10 largest taxpayers as a % of taxable value 7.7 Strong budgetary performance Operating fund result as a % of expenditures 8.8 2.4 3.2 Total governmental fund result as a % of expenditures 8.2 3.1 (4.9) Very strong budgetary flexibility Available reserves as a % of operating expenditures 29.3 29.7 28.9 Total available reserves ($000) 11,556 11,088 10,074 Very strong liquidity Total government cash as a % of governmental fund expenditures 161.0 159.0 132.5 Total government cash as a % of governmental fund debt service 874.0 869.5 822.4 Very strong management Financial Management Assessment Strong Very weak debt and long-term liabilities Debt service as a % of governmental fund expenditures 18.4 18.3 16.1 Net direct debt...

Summary