DALLAS - Standard & Poor's yesterday raised its rating on the Dallas suburb of Carrollton to AAA from AA-plus, citing the city's strong general reserve funds, revenue-raising flexibility, and proactive budget-cutting efforts in periods of revenue softness.

The upgrade comes as the city prepares to issue $40 million of general obligation bonds for streets, sewers and other infrastructure and to refund a 1999 issue for interest cost savings.

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