Standard & Poor’s raised its general obligation bond rating of Lynn, Mass. to A from A-minus. The outlook is  stable.

“The upgrade reflects recent strong financial performance and greater operating flexibility,” said credit analyst Victor Medeiros.

The report cited the 87,000-population city’s budgetary adjustments and low debt burden, coupled with limited additional capital needs. Lynn, though, must still deal with “sizable long-term liabilities,” Medeiros wrote.

Lynn is 11 miles north of Boston.

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