NEW YORK (Standard&Poor's) July 27, 2010--Standard&Poor's Ratings Services has raised its rating on the City of Ocean City, N.J.'s general obligation (GO) bonds to 'AA' from 'A' and reinstated its 'AA' underlying rating (SPUR) on the bonds to reflect the credit quality of the issuer. The outlook is stable. At the same time, the rating service assigned its 'AA' long-term rating to the city's $13.8 million 2010 GO general improvement bonds. The ratings reflect Standard&Poor's view of the city's: Sizable tax base and strong income levels, Limited reliance on state aid, and History of maintaining strong and level fund balance. "We expect that the city will maintain its consistently strong financial position," said Standard
