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.

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