Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'AA-' from 'A+' on Red Oak, Texas' outstanding general obligation (GO) debt based on the city's consistently strong budgetary flexibility and liquidity position. At the same time, Standard&Poor's assigned its 'AA-' rating to the city's series 2014 GO refunding bonds. The outlook on all ratings is stable. While the city's full faith and credit pledge secures its outstanding GO debt, by practice the city's proprietary funds have partially supported debt service payments. We have factored this support into the analysis. The rating reflects our assessment of the following factors: Serving a population of about 11,400 and situated approximately 20 miles south of Dallas in Ellis County, Red
