Standard&Poor's Ratings Services assigned its 'A' rating and stable outlook, to the city of Prattville, Ala.'s series 2009 general obligation (GO) warrants. The rating reflects our view of the city's general creditworthiness, including its: Inclusion in the Montgomery metropolitan statistical area (MSA), which serves as a regional economic base and is anchored by the presence of the state government and Maxwell Air Force Base; Good income in terms of median household effective buying income; and Above-average debt amortization. In our opinion, the city's adequate reserves limit the rating. Although the city pledges no specific tax or other revenue source for repayment of the warrants, a full faith and credit pledge ultimately secures the debt. Officials plan to use
