Standard&Poor's Ratings Services assigned its 'AA' rating and stable outlook to Cedar Hill, Texas' series 2012 general obligation (GO) refunding bonds and affirmed its 'AA' rating, with a stable outlook, on the city's existing GO debt. The rating reflects our opinion of the city's: Participation in the diverse Dallas-Fort Worth metropolitan area economy with direct access to the greater Dallas labor market; Strong wealth and income; and Historically very strong finances, supported by strong management practices. We believe what we consider the city's moderately high overall debt with additional debt-financed capital needs somewhat offsets these strengths. An ad valorem tax pledge secures the bonds. We understand officials intend to use bond proceeds to refund portions of the city's
