Standard&Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Huntsville Public Building Authority, Ala.'s series 2007 lease-revenue capital improvement and refunding bonds, supported by Huntsville, Ala. Officials will use bond proceeds to refund authority debt outstanding and fund additional project costs for a city-county jail facility. Lease-rental payments made to the authority from the city under a lease agreement secure the bonds. The rating reflects the city's: Above-average wealth and income levels and below-average unemployment; Strong growth and continually diversifying property tax base, coupled with some dependence on the military, aerospace, and electronic industries; Solid financial performance and good management practices, characterized by operating surpluses and healthy reserves; and Moderate overall debt levels. The high annual
