Standard&Poor's Ratings Services has assigned its 'AA-' long-term rating to the Historic Prattville Redevelopment Authority, Ala.'s series 2016 redevelopment bonds. The bonds are secured by lease payments made to the authority by the city of Prattville. At this time, we affirmed our 'AA-' long-term rating and underlying rating (SPUR) on Prattville's outstanding general obligation (GO) debt. The outlook is stable. There is no appropriation risk cited. The city's obligation to make these payments is absolute and unconditional. Prattville has pledged it full faith and credit to the repayment of these bonds. For these reasons, we rate the bonds on par with the city. The city's creditworthiness reflects the following factors, specifically its: Adequate economy, with access to a
