Standard & Poor’s last week upgraded Altamont Village’s general obligation rating to A from BBB-plus.

“The upgrade reflects the village’s continued maintenance of a good financial position despite two years of planned reductions in the general fund balance,” analyst Linda Yip said in a news release.

The village, with a population of 1,737, has $1.4 million of outstanding debt.

Located about 15 miles northwest of Albany, Altamont benefits from its proximity and participation in the the growing capital region, the rating report said.

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