S&P ups San Jose, Calif., rates bonds AA+

Standard & Poor's said it raised the rating and underlying rating to AA+ from AA on San Jose, Calif.'s outstanding lease-backed and appropriation debt, reflecting the city's general creditworthiness and the pledge of city lease payments subject to annual appropriation.

The agency also assigned its AA+ underlying rating to San Jose's series 2008A (Civic Center) lease revenue bonds.

The outlook is stable.

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