S&P upgrades Fort Smith, Ark., bonds to A

Standard & Poor's said it raised its standard long-term rating and underlying rating on Fort Smith, Ark.'s water and sewer revenue bonds due Dec. 31, 2027 to A from A-.

At the same time, the agency assigned an A standard long-term rating to Fort Smith's $120.2 million series 2008 water and sewer revenue bonds.

The outlook is stable.

The agency said the upgrade reflects the recent adoption of rate increases, coupled with a clearer identification of system capital needs and improving coverage levels.

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