Standard&Poor's Ratings Services raised its underlying rating (SPUR) on Cedar Hill, Texas' waterworks and sewer bonds to 'AA-' from 'A' based on the system's historically good coverage and healthy customer base expansion. At the same time, Standard&Poor's assigned its 'AA-' standard long-term rating to Cedar Hill's $3 million series 2008 water and sewer system revenue bonds. The ratings reflect our view that the city continues to exhibit: A continued willingness to increase rates, as necessary, to adequately fund obligations and as well as securing a significant additional water supply associated with Joe Pool Lake; Inclusion in the diverse Dallas-Fort Worth metropolitan statistical area (MSA) economy; and Good liquidity. These factors are offset, in part, by the
