S&P lifts Oakland, Calif., G.O. bonds to AA-

Standard & Poor's said it raised the rating to AA- from A+ on Oakland, Calif.'s outstanding general obligation bonds.

At the same time, S&P said it assigned an A+ rating to the Oakland Joint Powers Financing Authority's $120 million of revenue refunding bonds, series 2008B, issued for the City of Oakland.

The outlook is stable.

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