Standard&Poor's Ratings Services affirmed its 'A+' standard long-term rating and Standard&Poor's underlying rating (SPUR), with a stable outlook, on Texas City, Texas' GO debt. The ratings reflect the city's: Sizable economic and property tax base, concentrated in the petrochemical industry; Sustained sound financial performance and position; and Low tax rate. Offsetting credit factors include the city's: Highly concentrated property tax base, Above-average debt levels, and Below-average income levels. Located on the Gulf Coast, Texas City, with a population estimate of 45,521, is a deepwater port nine miles north of Galveston, Texas and 35 miles southeast of Houston, Texas. The petrochemical industry, including the largest gasoline refinery operated by BP Products North America Inc., dominates the economy
