Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to A from A-minus on Chula Vista, Calif.'s certificates of participation outstanding.
The outlook is stable.
"The raised ratings are based on our view of the city's stabilized and strong financial position," said Standard & Poor's credit analyst Jen Hansen.
The ratings reflect the city's: participation in San Diego area's broad economic base; above-average income and wealth indicators; improved financial performance after a prolonged trend of deficit spending, resulting in sustained good reserve levels; and adoption of an enhanced reserve policy and plans to develop its funding strategy.
