Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating (SPUR) to A-plus from A on Marble Falls, Texas' general obligation debt.
At the same time, it assigned its A-plus long-term rating to the city's series 2014 GO refunding bonds. The outlook is stable.
"The rating action is based on our view of the city's improved wealth levels as well as its recent and projected improvement in its budgetary flexibility and cash position," said Standard & Poor's credit analyst Brian Marshall.
Management will use the series 2014 bond proceeds to refund a portion of the city's debt for savings.
The stable outlook reflects the anticipation that officials will remain committed to restoring the city's financial position and eventually bringing its general fund balance in line with historical levels, through conservative budgeting and a stable tax base.
