Standard&Poor's Ratings Services assigned its 'AA-' rating to Texas City, Texas' series 2015 certificates of obligation. We also affirmed the 'AA-' rating on the city's general obligation (GO) bonds. The outlook is stable. The city's full-faith-and-credit pledge secures the certificates. The rating reflects our view of the following factors for the city: A weak economy with concentration in top taxpayers; Very strong budgetary flexibility; Strong budgetary performance; Very strong liquidity; Adequate management; Very strong debt and contingent liability profile; and Strong institutional framework. 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
