Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to San Antonio, Texas' series 2014 general improvement and refunding bonds and series 2014B tax notes. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the city's outstanding general obligation (GO) debt and its 'AA+' rating and SPUR on San Antonio Municipal Facilities Corp. debt issued for the city. The outlook is stable. The ratings reflect our view of the city's: Strong economy that is part of a broad and diverse metropolitan statistical area, with a stabilizing presence provided by the major military installations; Very strong management conditions with strong financial practices; Very strong budgetary flexibility; Very strong liquidity, with total government
