Standard&Poor's Ratings Services raised its rating on the city of San Antonio, Texas' prior-lien hotel occupancy tax (HOT) revenue bonds one notch to 'AA-' from 'A+' based on the maintenance of extremely strong debt service coverage despite what we believe is a challenging economic environment. At the same time, Standard&Poor's affirmed its 'A+' rating on the city's subordinate-lien HOT revenue bonds. The outlook on all ratings is stable. The ratings continue to reflect our view of the following credit factors: San Antonio's strong regional convention, business, and tourism base; Adequate legal provisions, including an additional bonds test that requires a 1.5x maximum annual debt service (MADS) coverage on existing and proposed debt and a closed lien
