Standard&Poor's Ratings Services assigned its 'A+' rating, and stable outlook, to the City of Tonawanda, N.Y.'s series 2012 public improvement bonds. At the same time, Standard&Poor's affirmed the 'A+' rating, with a stable outlook, on the city's existing general obligation (GO) debt. The rating reflects what we view as the city's: Access to and participation in the greater Buffalo area economy and employment base; Unemployment rate that is below state and national levels; and Strong financial position and good financial management practices with a history of operating surpluses and growing general fund reserves. These strengths are partially offset by what we consider adequate but below-average income levels and property values, and a moderate-to-moderately high overall net
