S&P Global Ratings assigned its 'A-1+' short-term rating to the City of Houston, Texas' $75 million general obligation (GO) commercial paper (CP) notes series G-1. At the same time, we affirmed our 'A-1+' short-term rating on the city's existing CP program. The rating reflects our view of the city's strong general creditworthiness ('AA' GO debt rating), and a limited ad valorem tax levied on taxable property in Houston that secures the notes. As of Jan. 31, 2021, the city had $91 million in existing draws between four separate voter-authorized CP programs. The city also has existing draws on other CP series under non-voter-authorized programs, the combined utility system, airport system, and convention and entertainment center. The note proceeds will fund
