NEW YORK (Standard&Poor's) May 9, 2005—Standard&Poor's Ratings Services assigned its 'AA' rating to Albuquerque, N.M.'s general obligation general-purpose bonds series 2005A and general obligation storm sewer bonds series 2005B. At the same time, Standard&Poor's affirmed its 'AA' rating on the city's outstanding general obligation bonds. The rating reflects the city's expanding and diversifying economic base, historically stable financial operations, and manageable debt burden. The outlook is stable based on the expectation that the city will maintain adequate reserve levels and manageable debt levels. The series 2005 bonds are secured by the city's full faith and credit pledge, payable from unlimited property taxes. Proceeds from the 2005 bonds will be used to finance the acquisition
