Standard&Poor's Ratings Services raised its rating on San Antonio Municipal Facility Corp., Texas' existing lease revenue debt to 'AA+' from 'AA', supported by the city of San Antonio, Texas, based on Standard&Poor's upgrade of the city's general obligation (GO) rating to 'AAA'. The 'AA+' rating reflects our view of: The general creditworthiness of San Antonio ('AAA' GO debt rating), The lease payments to be made from the annual appropriation of the city, and A stable and diversified economic base. Ongoing lease payments by the city to the municipal facilities corp., a not-for-profit corporation, secure the bonds. A debt service reserve funded at one-half of average annual debt service on the bonds provides further bond security. Lease
