S&P Global Ratings assigned its 'BBB-' rating to Celina, Texas' $34.084 million series 2025 special-assessment revenue refunding and improvement bonds (The Lakes at Mustang Ranch Public Improvement District Major Improvements Area and Phase Nos. 2-7 Project). The outlook is stable. The bonds are limited obligations of Celina, payable from and secured by special assessments levied against assessable property within phase Nos. 2-7 of the initial Lakes at Mustang Ranch Public Improvement District Major Improvement Area. Officials intend to use the bond proceeds to refund existing debt for interest rate savings, reimburse the developer for a portion of public infrastructure costs for the phase #2-7 projects, and to fund a reserve fund. The improvement area is within an approximately 622-acre master-planned
