WASHINGTON Feb 6 Standard & Poor's Ratings
Service upgraded the ratings U.S. municipal bonds at a higher
rate than downgrades in the final quarter of 2012, which helped
push the full year into positive territory.
The ratio of upgrades to downgrades was 1.61-to-1, the
agency said in a special report on Wednesday, adding there were
no defaults on the municipal bonds it rates in the final quarter
"With another year in the books, U.S. public finance again
proved to be a relatively stable sector," it said, noting at the
end of December, more than 40 percent of its public finance
ratings were "AA-" or higher.
"Widely publicized concerns about credit quality throughout
the sector notwithstanding, the actual degree of credit quality
erosion in public finance during the past two years was
minimal," it added.