Standard&Poor's Ratings Services assigned its 'AA+' long-term rating, and stable outlook, to the city of Newport, R.I.'s general obligation (GO) series 2015A bonds and affirmed its 'AA+' rating, with a stable outlook, on the city's existing GO debt. The ratings reflect what we view as Newport's: Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); Strong management, with "good" financial policies; Strong budgetary performance, with a slight operating deficit in the general fund but a slight operating surplus at the total governmental fund level; Strong budgetary flexibility, with an available fund balance in fiscal 2014 of 13% of operating expenditures; Very strong liquidity, with total government available cash of 22.9% of total governmental
