Standard & Poor's Ratings Services said it raised its long-term rating to AA from AA-minus on Sharonville, Ohio's series 2010A and 2010B special obligation revenue bonds.
The outlook is stable.
"The rating action reflects our opinion of substantial growth in the city's pledged income tax revenue and maximum annual debt service (MADS) coverage that greatly exceeds the ratio we calculated at the time of issuance based on pro forma projections," said Standard & Poor's credit analyst Chris Morgan.
The stable outlook reflects the very strong MADS coverage provided by general income tax revenue.
