Standard & Poor’s upgraded its issuer credit rating for San Ramon to AAA from AA Wednesday, citing the city’s “sustained, strong” financial performance and “strong, diverse” economy. 

The city is a bedroom community in Contra Costa County, 20 miles east of San Francisco. Contra Costa County has suffered the brunt of a severe downturn in the region’s housing market. But San Ramon has enough reserves to weather the storm and enough commercial development to offset some of the weakness in housing, Standard & Poor’s analyst Li Yang in San Francisco said in an interview.

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