S&P Global Ratings assigned its 'AA' long-term rating to the city of Red Oak, Texas' approximately $6.28 million combination tax and revenue certificates of obligation (COOs). At the same time, S&P Global Ratings affirmed its 'AA' long-term and underlying ratings on the city's previously issued COOs and general obligation (GO) bonds based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. The outlook is stable. The certificates, tax notes, and GO bonds are secured by the levy and collection of a direct and continuing annual ad valorem tax, within the limits prescribed by law, on all taxable property within the city. The certificates are also secured by a pledge of the surplus revenue
