Summary: Cedar Hill, Texas; General Obligation

S&P Global Ratings assigned its 'AA' rating to Cedar Hill, Texas' approximately $10.29 million series 2024 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 in the city, secures the series 2024 certificates and existing limited-tax GO bonds. A limited net revenue waterworks-and-sewer-system surplus pledge 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 home-rule municipalities in Texas is $2.50 per $100 of assessed value for

...Most recent --Historical information-- 2022 2021 2020 Strong economy Projected per capita effective buying income (EBI) (%) of U.S. 83.0 Market value per capita ($) 111,429 Population 53,156 53,409 53,689 County unemployment rate(%) 3.7 Market value ($000) 5,923,126 4,591,804 10 leading taxpayers as a % of taxable value 9.6 Strong budgetary performance Operating fund result as a % of expenditures 13.3 8.8 2.4 Total governmental fund result as a % of expenditures 19.0 8.2 3.1 Very strong budgetary flexibility Available reserves as a % of operating expenditures 32.0 29.3 29.7 Total available reserves ($000) 12,888 11,556 11,088 Very strong liquidity Total government cash % of governmental fund expenditures 209.5 161.0 159.0 Total government cash % of governmental fund debt service 1,111.9 874.0 869.5 Very strong management Financial Management Assessment Strong Very weak debt and long-term liabilities Debt service as a % of governmental fund expenditures 18.8 18.4 18.3 Net direct debt as...

Summary