Standard&Poor's Ratings Services assigned its 'BBB' rating, and stable outlook, to Celina, Texas' series 2004 tax and waterworks and sewer system surplus revenue certificates of obligation. The rating reflects the city's: Good access to Plano, Texas' and the northern Dallas MSA's economic bases; Small, but expanding, property tax base; and Adequate financial performance and position. Offsetting factors include the city's: High overall debt burden, and Limited local economy. The city's full faith and credit pledge secures the bonds. Celina, with a population of about 3,200, is in northern Collin County, about 40 miles north of downtown Dallas, Texas. Many city residents commute into the Dallas metropolitan area for employment due to the limited local economy. Assessed valuation (AV)
