NEW YORK (Standard&Poor's) Feb. 20, 2014--Standard&Poor's Ratings Services has raised its rating on Chappel Dam Assessment District, Mich.'s series 2009 special assessment bonds, issued for Gladwin County, by two notches to 'AA-' from 'A', based on Standard&Poor's local GO criteria released Sept. 12, 2013. The outlook is stable. The rating reflects Standard&Poor's assessment of the county's: Very strong budgetary flexibility, Very strong liquidity, Very strong debt and contingent liabilities profile, Strong budgetary performance, Adequate management, Very weak economy, and Strong institutional framework. "The stable outlook reflects our view that Gladwin County will maintain its very strong budget flexibility, liquidity, and debt profile," said Standard&Poor's credit analyst Errol R. Arne. "Although
