Standard & Poor’s raised Buffalo, N.Y.’s general obligation bonds to A-minus from BBB-plus, reflecting the city’s improved financial profile, stronger financial management controls, and continued advisement provided by the Buffalo Fiscal Stability Authority. The outlook is stable.

At the same time, the agency assigned its A-minus long-term rating to the city’s $21.5 million of Series 2009A GO improvement bonds and its A rating to $3.53 million of Series 2009B school bonds. Under New York State’s school aid intercept program, the school bonds continue to be rated A.

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