Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Albuquerque, N.M.'s series 2016A and 2016B general obligation (GO) bonds. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the city's existing GO bonds. The outlook is stable. The ratings reflect our opinion of Albuquerque's: Adequate economy, with access to a broad and diverse metropolitan statistical area (MSA); Very strong management, with "strong" financial policies and practices under our financial management assessment (FMA) methodology; Strong budgetary performance, with break-even operating results in the general fund but an operating surplus at the total governmental fund level in fiscal 2015; Strong budgetary flexibility, with an available fund balance in fiscal 2015 of 12.9%
