Standard & Poor’s Rating Services has announced that the city of Ennis’ General Obligation Bond Rating had been upgraded from an “A” to an “A+” Rating. 

Standard & Poor’s cited Ennis’ strong ad valorem tax base growth to $1.2 billion in fiscal 2009, a reduced tax rate and adequate reserves as reasons for the bond rating upgrade.  

“The City of Ennis is pleased to receive the ‘A+ Bond Rating especially at a time when the national economy is faltering and many cities are having extreme financial difficulty,” City Manager Steve Howerton said.

Standard & Poor’s Ratings Services has raised the ratings on the general obligation bonds of 26 municipalities primarily in Texas, as well as Alabama, Tennessee, and Kansas, based on a qualitative assessment in conjunction with credit ratio analysis.