S&P Global Ratings assigned its 'AA+' rating and stable outlook to Saratoga Springs, N.Y.'s roughly $17.137 million series 2022 public-improvement general obligation (GO) bonds and affirmed its 'AA+' rating, with a stable outlook, on the city's existing GO debt. Saratoga Springs' faith-and-credit pledge secures the series 2022 and existing bonds. Officials intend to use series 2022 bond proceeds to finance various capital improvements. Saratoga Springs expects significant surplus results for fiscal 2021 because housing activity has been robust, sales taxes have rebounded, and major tourist attractions have reopened. Officials expect fund balance to grow, replenishing reserves spent during fiscal 2020. In our opinion, robust financial-management policies and access to the broad, diverse metropolitan statistical area provide additional rating stability. The
