Standard & Poor's Ratings Services has raised its underlying rating (SPUR) on Galveston Community College District, Texas' series 2004 combined-fee revenue bonds to 'BBB+' from 'BBB'. The outlook is stable.

The upgrade reflects Standard & Poor's view of the district's consistently positive operations on a full-accrual basis despite multiple challenges in recent years, including the impact of Hurricane Ike, which struck Galveston in 2008, and cuts in state operating appropriations. Standard & Poor's also views the district's solid financial resources for the rating category and lack of new debt plans as positive rating factors.

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