Standard&Poor's Ratings Services assigned its 'A+' long-term rating to Kingsville, Texas' series 2016 certificates of obligation. At the same time, Standard&Poor's affirmed its 'A+' long-term and underlying rating (SPUR) on the city's parity GO debt. The outlook is stable. A pledge of the city's continuing ad valorem tax, within the limits prescribed by law, on all taxable property within the city secures the bonds. The maximum tax rate allowable by state law is $2.50 per $100 of assessed value (AV); however, in our opinion there is sufficient revenue raising flexibility within the cap, given that the current tax rate is just 84.22 cents per $100 of AV. The rating reflects our assessment of the following factors
