S&P Global Ratings raised its long-term rating one notch to 'AA' from 'AA-' on the City of Prattville , Ala.'s general obligation (GO) debt outstanding. At the same time, S&P Global Ratings assigned its 'AA' long-term rating to the city?s $14.67 million series 2025 general obligation (GO) warrants. The outlook is stable. The ratings reflect the application of our ? Methodology For Rating U.S. Governments ,? published Sept. 9, 2024. The upgrade reflects the city?s sizable multiyear operating surpluses and robust reserves, driven largely by substantial increases in sales taxes in recent years, and our expectation that ongoing development in Prattville will continue to generate steady revenue growth, somewhat insulating the city from larger macroeconomic uncertainty. The warrants are a
