Standard&Poor's Ratings Services assigned its 'AAA' rating to San Antonio, Texas' series 2012 general improvement refunding bonds. In addition, Standard&Poor's affirmed its 'AAA' rating on the city's existing general obligation (GO) debt and its 'AA+' rating on the city's appropriation debt issued by the San Antonio Municipal Facilities Corporation. The outlook on all ratings is stable. The ratings reflect our opinion of the city's: Deep and increasingly diverse economy, which has allowed management to maintain stable financial operations through recessionary cycles; Strong financial management policies, which include a comprehensive long-term financial and capital program; Very strong financial performance and position; and Moderately high overall debt burden. A limited annual ad valorem tax secures the series 2012
