NEW YORK (Standard&Poor's) Aug. 14, 2007--Standard&Poor's Ratings Services raised its rating on Albuquerque, N.M.'s municipal gross receipt tax debt one notch to 'AA+' from 'AA' due to strong coverage, the city's broad sales tax base, and the city's role as a regional economic center. The outlook remains stable. The rating also reflects the city's strong and resilient sales tax base, strong legal provisions, and continued population and employment growth in the area. The city's pledged municipal gross receipt tax revenues grew by an average of 5% annually since fiscal 2002, including 11% in fiscal 2006, to $70 million. Fiscal 2006 pledged municipal gross receipt tax revenues provided a very strong 35x maximum annual debt service in
