Summary: Winnsboro, Texas; General Obligation

S&P Global Ratings assigned its 'A+' long-term rating to the City of Winnsboro, Texas' anticipated $5.89 million taxable series 2020 general obligation (GO) refunding bonds. At the same time, S&P Global Ratings affirmed its 'A+' long-term rating on the city's GO bonds outstanding. The outlook is stable. The GO bonds constitute direct obligations of the city payable from the levy and collection of a continuing direct annual ad valorem tax, within the limits prescribed by law, on all taxable property within its borders. The maximum allowable ad valorem tax rate in Texas is $2.50 per $100 of assessed value (AV) for all purposes, with the portion dedicated to debt service limited to $1.50. The city's total tax rate is well

...S&P Global Ratings assigned its 'A+' long-term rating to the City of Winnsboro, Texas' anticipated $5.89 million taxable series 2020 general obligation (GO) refunding bonds. At the same time, S&P Global Ratings affirmed its 'A+' long-term rating on the city's GO bonds outstanding. The outlook is stable. The GO bonds constitute direct obligations of the city payable from the levy and collection of a continuing direct annual ad valorem tax, within the limits prescribed by law, on all taxable property within its borders. The maximum allowable ad valorem tax rate in Texas is $2.50 per $100 of assessed value (AV) for all purposes, with the portion dedicated to debt service limited to $1.50. The city's total tax rate is well below the maximum, at 56.63 cents, 9 cents of which is dedicated to debt service. We rate the bonds on par with our view of the city's general creditworthiness, as the tax base supporting the obligations is coterminous with the city, and we see no unusual risks regarding...

Summary