Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, with a stable outlook, to Albuquerque, N.M.'s general obligation (GO) bonds series 2011A. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the city's existing GO debt. The ratings reflect what we view as the city's: Diversified economic base, which has allowed Albuquerque to successfully manage its operations through previous economic cycles; Good wealth and income levels; Strong financial management; and Rapid amortization of principal and moderate future capital needs. Although the ongoing economic downturn has resulted in lower revenues and reserves, we believe the city's strong financial management, multiyear planning, and revenue raising flexibility continue to provide support for the 'AAA'
