Northport, Ala., Raised to AA-Minus by S&P

Standard & Poor's Ratings Services said that it raised to AA-minus from A-plus its rating on Northport, Ala.'s general obligation warrants.

The outlook is stable.

"The upgrade reflects management's willingness to adhere to sound budget practices and policies, which has resulted in improving general fund balances," said Standard & Poor's credit analyst Edward McGlade.

The rating also reflects the city's: close proximity to Tuscaloosa as an employment base; currently good financial position, supported by its historically sustainable sales tax revenue stream; and moderate debt burden, with limited additional capital needs.

These credit strengths are moderated, in part, by the city's adequate, although below-average, incomes.

The city's full faith and credit pledge secures the warrants.

Northport, with an estimated population of 23,330, is just north of Tuscaloosa in west-central Alabama.

"The stable outlook reflects the city's currently good financial position and proximity to the Tuscaloosa as an employment and economic center," added McGlade. Additionally, the outlook reflects the city's low debt burden, coupled with limited future capital needs.

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