Standard&Poor's Ratings Services assigned its 'AA-' rating to Atlanta Public Safety and Judicial Facilities Authority, Ga.'s series 2006 revenue bonds, issued for Atlanta. The rating is based on Atlanta's 'AA-' GO rating, which reflects the city's: Diversified regional economic base, which is experiencing a slow recovery from the recession; Sound reserves despite a slight fund balance reduction in fiscal 2005; Conservative management practices that include budgeting for 96% of revenue collections and continued cost controls, limiting hiring following a period of significant layoffs; and Moderate debt ratios with manageable general fund-supported capital needs. The bonds are secured by an assignment of rights to rental payments made by the city under a lease agreement between the city and authority.
