...S&P Global Ratings raised its rating on the City of Celina, Texas' existing general obligation (GO) debt to '##' from '##-'. At the same time, S&P Global Ratings assigned its '##' long-term rating to the city's series 2018 tax and waterworks and sewer system (limited pledge) revenue certificates of obligation and series 2018 GO refunding bonds. The outlook on all ratings stable. The rating action reflects our view of Celina's improved wealth levels resulting from continued economic growth, and is further supported by very strong budgetary flexibility and liquidity as well as strong management, with recently formalized long-term capital and financial plans. The series 2018 certificates and 2018 GO refunding bonds constitute direct obligations of the city, payable from a combination of the levy and collection of a continuing annual ad valorem tax, within the limits prescribed by law, on all taxable property within Celina. The certificates are additionally supported by a limited pledge (not...
