Standard & Poor's Ratings Services said it raised its ratings on the city of Wolfforth, Texas's general obligation bonds to A-plus from A.
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At the same time, Standard & Poor's said it assigned its A-plus rating to the city's series 2015 GO refunding bonds. The outlook on all ratings is stable.
"The upgrade reflects our opinion of the city's very strong budgetary flexibility and improving economic indicators," said Standard & Poor's credit analyst Ann Richardson.
Wolfforth has posted three consecutive years of general fund surpluses, and its available reserve balance is approaching an amount no longer considered nominally low.
