Standard&Poor's Ratings Services assigned its 'AAA' rating to San Antonio, Texas' series 2012 general improvement bonds, series 2012 certificates of obligation, and series 2012 tax notes. At the same time, Standard&Poor's affirmed its 'AAA' rating and underlying rating (SPUR) on the city's general obligation (GO) debt outstanding and its 'AA+' rating and SPUR on the city's appropriation debt issued by the San Antonio Municipal Facilities Corporation. 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
