Standard&Poor's Ratings Services has assigned its 'AA' rating, with a stable outlook, to Rhode Island Health&Education Building Corp.'s series 2013C revenue bonds, issued for the City of Newport, R.I.; the bonds are secured by Newport's general obligation (GO) pledge. At the same time, Standard&Poor's affirmed its 'AA' long-term rating on the city's GO bonds outstanding. The rating reflects our assessment of the city's: Seasonal, tourism-based local economy, with some stable employers; Good income levels and extremely strong property tax base; Strong financial position and good financial management practices and policies; and Low overall net debt burden with low carrying charges. In our view, somewhat offsetting these credit strengths are the city's sizable pension and
