Conroe, Texas, Upgraded to AA by S&P

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA from AA-minus on Conroe, Texas' previously issued general obligation debt.

At the same time, Standard & Poor's assigned its AA long-term rating to the city's series 2014 certificates of obligation. The outlook is stable.

"The rating action reflects our view of the city's very strong financial profile, including very strong budgetary flexibility, and strong budgetary performance that will help to offset the growing population and capital needs," said Standard & Poor's credit analyst Sarah Smaardyk.

Officials will use certificate proceeds for the design, planning, acquisition, construction, equipping, expansion, repair, renovation, and/or rehabilitation of public property.

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