Standard&Poor's Ratings Services assigned its 'AAA' rating to Plano, Texas' series 2009 general obligation (GO) refunding and improvement bonds and GO tax notes, and affirmed its 'AAA' rating on the city's existing GO debt. The rating reflects the city's: Deep, diversified economic and employment base; Very strong wealth and income levels; Conservative and sophisticated financial and debt management policies that include long-range budget and capital plans; Very strong general fund reserves, which are augmented by additional reserves in various funds, providing significant revenue-raising flexibility; and Manageable debt levels, enhanced by rapid principal amortization and an increasing proportion of capital improvements done as pay-as-you-go financing, as well as moderate additional debt needs. The city's ad valorem property tax pledge
