Standard & Poor's raised Erie County, N.Y.'s general obligation bond rating to AA-minus from A-minus on strong budgetary performance.
Analysts Timothy Daley and Lindsay Wilhelm said the county in western New York, with its seat in Buffalo, has built up its reserves to a strong level.
The county government also has strong management, with good financial policies and practices in place. It has a strong debt and liability profile, with limited exposure to pension and other postemployment benefits, the analysts said.
However, the county government's financial strength is tempered by a merely adequate local economy.
S&P has a stable outlook on the rating.
The county has a population of about 920,000.
The county's total direct debt is $555 million, according to S&P.
