Moody's Investors Service said it has affirmed the Aa2 rating on Cedar Park, Texas's general obligation limited tax debt and upgraded to Aa2 from A3 the general obligation bonds assumed by Cedar Park through the annexation of Williamson-Travis Counties Water Control and Improvement District (WCID) 1-D.
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The Aa2 rating affects $105 million in debt. The city has an additional $59 million in general obligation limited tax debt not rated by Moody's.
Cedar Park's bonds and certificates of obligation are secured by an ad valorem tax levied on all taxable property within the city within the limits prescribed by law. The annexed debt is secured by an unlimited ad valorem tax.
