Standard & Poor's Ratings Services said it raised its issuer credit rating to AA-minus from A-plus on Indio, Calif.
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At the same time, Standard & Poor's raised its long-term and underlying rating to A-plus from A on the city's existing appropriation debt. The outlook on all ratings is stable.
"The raised rating reflects our view of the improvement in the city's local economy score and a substantial improvement in the city's budgetary flexibility score," said Standard & Poor's credit analyst Li Yang.
Indio, with an estimated population of 84,201, is located in Riverside County in the Riverside-San Bernardino-Ontario, CA MSA, which is considered to be broad and diverse.
