Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to A-plus from A on Mineola, Texas' general obligation debt.
At the same time, it assigned its A-plus long-term rating to the city's series 2014 combination tax and revenue certificates of obligation. The outlook is stable.
"The rating action reflects our view of the city's historically very strong liquidity, budget flexibility, and very limited debt plans following this issuance," said Standard & Poor's credit analyst Brian Marshall.
Certificate proceeds will be used to fund water system, sewer system, and street improvements.
The stable outlook reflects the anticipation that Mineola will maintain its very strong financial profile, as indicated by its very strong liquidity and budgetary flexibility.
