The rating on Albuerque, N.M.'s bonds is based on the city's full faith and credit pledge and reflects: * An expanding economy based in services, trade, and government; * Average income indicators; * Sound financial operations and position; and * Moderately low and rapidly maturing debt. Albuquerque (population 436,000) is New Mexico's largest city and economic center. Services (34% of employment), trade (23%), and government (15%) drive the area economy. Despite a slight decline in 1996, labor force and employment continue to rise, while unemployment — averaging 4.3% for the first half of 1998 — has remained lower than state and national rates since 1989. The public and health care sectors dominate the local employment base, with a high technology
