Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Plano, Texas' series 2011 general obligation (GO) refunding and improvement bonds. At the same time, Standard&Poor's affirmed its 'AAA' rating on the city's existing GO debt. The outlook is stable. The ratings reflect our view of the city's: Deep and diverse economic and employment base; Very strong wealth and income levels; Conservative and sophisticated financial and debt management policies that include long-term budget and capital plans; Very strong general fund reserves, coupled with significant revenue-raising flexibility; and Moderate debt levels, enhanced by rapid principal amortization and moderate additional debt needs. The bonds are secured by a direct annual ad valorem tax levied on all taxable property within
