Standard & Poor’s upgraded St. Cloud to AA-plus from AA due to its strong management practices and exceptional reserve levels.

The upgrade includes the city’s sale of $3.2 million of Series 2009A general obligation judgment refunding bonds. The rating agency also boosted St. Cloud’s 2005 certificates of participation to AA from AA-minus.

“We expect that the city’s financial position will remain healthy, with strong reserves as economic growth continues,” said Standard & Poor’s analyst Steffanie Dyer. “Growth in the city’s available revenue stream over time should allow for additional capital projects, as needed, and help to maintain steady financial operations.”

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