Standard&Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) to 'AA-' from 'A' on Prattville, Ala.'s outstanding general obligation (GO) debt. The raised ratings are due primarily to our view of the city's significant improvement of its financial position during the past three fiscal years. At the same time, Standard&Poor's assigned its 'AA-' long-term rating to the city's series 2014 GO refunding warrants. The outlook is stable. The ratings reflect our opinion of the city's: Adequate economy, which benefits from access to the broad and diverse Montgomery metropolitan statistical area (MSA); Adequate management with standard financial practices; Strong budgetary flexibility, with reserves in excess of 15% of operational expenditures for the past two fiscal
