The Standard&Poor's underlying rating (SPUR) upgrade on Albuquerque, N.M.'s refuse removal and disposal revenue bonds is based on Albuquerque's continued sound financial results and manageable capital improvement plan (CIP). Other rating factors include: Limited competition to the city's solid waste department for these services, A strong rate collection mechanism, Long-term landfill capacity, Relatively low rates, and Good coverage of annual debt service by pledged revenues. Also reflected in the rating are strong legal protections, including a 1.5 times (x) rate covenant; a 1.5x additional bonds test; and a debt service reserve. Albuquerque (population 420,000), located in central New Mexico, is the state's largest city and economic center. The city's unemployment rate is low and income is on par
