Standard&Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'AAA' from 'AA+' on Albuquerque, N.M.'s state-shared series 1999B and C bonds, and the city's subordinate gross receipt tax (GRT) and lodgers' tax bonds and subordinate gross receipt tax and golf course revenue bonds. Standard&Poor's also raised its rating to 'AAA' from 'AA+' on the city's municipal gross receipts tax (MGRT) bonds series 1999A. The raised ratings are due to very strong debt service coverage, the city's broad sales tax base, and its role as an economic center for the region. The rating action also reflects our expectation that potential changes in legislation governing the state-shared GRT will not significantly affect the very strong debt
