Standard&Poor's Ratings Services affirmed its 'AA-' long-term rating and underlying rating (SPUR) on Prattville, Ala.'s outstanding general obligation (GO) debt. At the same time, Standard&Poor's assigned its 'AA-' long-term rating to the city's series 2015 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 years; Very strong liquidity, with total government available cash covering 36% of expenditures and 173% of debt service; Strong budgetary performance; and Weak debt and contingent liabilities
