...S&P Global Ratings has assigned its '##+' rating to Cedar Park, Texas' series 2016 utility system revenue and refunding bonds. At the same time, we affirmed our '##+' rating on the city's previously issued utility system bonds. The rating reflects the general creditworthiness of the city's water and sewer utility system and our view of the combination of the extremely strong enterprise risk profile and very strong financial risk profiles. The outlook on all ratings is stable. The enterprise risk profile reflects our view of the system's: + Growing and diversifying service area economy with participation in the Austin-Round Rock metropolitan statistical area (MSA) and income levels that have remained very strong; + Willingness to adjust rates to address capital needs, coupled with rates that are affordable, providing additional revenue-raising flexibility; and + Good operational management policies and practices, including a focus on regionalization in its capacity to further enhance development...
