S&P ups Arlington, Texas, rates bonds AA+

Standard & Poor's said it raised the standard long-term and underlying ratings on Arlington, Texas' general obligation debt to AA+ from AA based on the continued expansion of the city's property tax base and strong financial management practices.

The agency also assigned an AA+ rating to the city's $39.9 million series 2008 permanent improvement bonds and $5.9 million series 2008 and $38.9 million series 2008A combination tax and revenue certificates of obligation.

The outlook is stable.

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