Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to San Antonio Public Facilities Corporation, Texas' series 2012 improvement and refunding lease revenue bonds, issued for San Antonio. At the same time, Standard&Poor's affirmed its 'AAA' underlying rating (SPUR) on the city's general obligation (GO) debt outstanding and its 'AA+' rating and SPUR on the city's appropriation debt outstanding. The outlook on all ratings is stable. The ratings reflect our view of the city's: Deep and increasingly diverse economy, which has allowed management to maintain stable financial operations through recessionary cycles; Very strong financial performance and position; Strong financial management policies, which include a comprehensive long-term financial and capital program; and Moderately high overall debt burden as
