S&P raises Alameda, Calif. GO rating to 'AA+'
Sept 19 (Reuters) - Standard & Poor's Ratings Services late on Wednesday raised its rating on Alameda, Calif.'s outstanding general obligation bonds to AA-plus from double-A.
The rating service also raised its ratings on Alameda's outstanding certificates of participation and lease revenue bonds to double-A from AA-minus.
The outlook is stable.
S&P said the rating upgrade was based on its recently released local GO criteria.
The stable outlook reflects Alameda's "participation in the diverse San Francisco Bay Area economy and continued consistent financial performance, supported by good financial management policies," S&P said.
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