Standard & Poor’s on Monday raised the city of Cocoa’s 2003 water and sewer revenue bonds to AA-minus from A.

The two-notch upgrade affected the city’s Series 2003 water and sewer bonds, of which $19.5 million is outstanding. The city’s total water and sewer bond debt at the end of fiscal 2008 was $63.3 million, including principal and interest due through 2038, Cocoa’s fiscal 2008 financial report said.

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