Standard & Poor's Ratings Services said it raised its rating and underlying rating on Erie, Colo.'s general obligation bonds to AA-plus from AA, with a stable outlook.
"The upgrade reflects the town's consistently very strong fund balances along with very strong wealth levels for this area," said Standard & Poor's credit analyst Michael Stock.
The ratings reflect the town's: good management practices and policies, very strong incomes, and somewhat concentrated sales tax base.
The bonds are secured by the town's ad valorem property tax pledge.
