Standard&Poor's Ratings Services raised its underlying rating (SPUR) on Celina, Texas' general obligation (GO) bonds to 'AA-' from 'A+', based on its local GO criteria released Sept. 12, 2013. The outlook is stable. The city pledges its ad valorem tax levy as payment for the bonds within the limits prescribed by law. The Texas Constitution limits the city's maximum ad valorem tax rate to $2.50 per $100 of taxable assessed valuation (AV). In our view, significant flexibility remains between the current tax rate of 65 cents per $100 of AV and the maximum amount allowed by state law. The rating reflects our assessment of the following factors for the city: We feel Celina's local economy is strong, with
