Standard&Poor's Ratings Services assigned its 'AA' rating to Albuquerque, N.M.'s GO general-purpose bonds series 2007B and GO storm sewer bonds series 2007C and affirmed its 'AA' rating on the city's existing GO debt. The rating reflects Albuquerque's: Expanding and diversified economic base, Historically stable financial operations, Below-average debt burden with rapid amortization of principal, and Average income and wealth levels. The series 2007 bonds are secured by the city's full faith and credit pledge, payable from unlimited property taxes. Albuquerque, with a population of about 494,000, is New Mexico's largest city and economic center; officials estimate a population of 817,000 in the wider MSA. Government, retail trade, and professional services represented the city's primary employment sectors by number
