S&P Global Ratings revised the outlook to stable from negative and affirmed its 'A+' long-term rating on Hazelwood, Mo.'s general obligation (GO) debt outstanding, its 'A' long-term rating on the city's certificates of participation (COPs) outstanding, and its 'A-' long-term rating on the city's series 2007 annual appropriation capital projects bonds. The outlook revision reflects our view of the city's robust reserve position following several years of budget overperformance, which we believe offsets some of the likelihood of a structural gap emerging given the city's view of ongoing fixed cost pressures from contracted fire protection services. The city's unlimited-tax GO pledge secures the GO debt. The city's COPs are rated one notch lower than its GO debt to reflect annual
