Standard&Poor's Ratings Services affirmed its 'AA-' rating on Texas City, Texas' general obligation (GO) bonds, based on the application of its local GO criteria released Sept. 12, 2013. The outlook is stable. The city's full-faith-and-credit pledge secures the bonds. The rating reflects our opinion of the following factors for the city: We consider Texas City's economy weak. The city is a deepwater port on the Gulf Coast nine miles north of Galveston and 35 miles southeast of Houston. It benefits from access to the broad and diversified economy of the Houston-The Woodlands-Sugar Land metropolitan statistical area (MSA). However, the city's property tax base is highly concentrated and the local economy is somewhat limited. The city has a population
