Santa Barbara, CA Revenue Bond Rating Raised To #AA# Due To Application Of Our Updated Criteria

Stocks and Financial Services Press Releases Wednesday February 19, 2014 09:06
SAN FRANCISCO--19 Feb--Standard & Poor's

SAN FRANCISCO (Standard & Poor's) Feb. 18, 2014-- Standard & Poor's Ratings Services raised its long-term rating to 'AA' from 'AA-' on the Santa Barbara Financing Authority, Calif.'s series 2009 revenue bonds (airport project), issued on behalf of the City of Santa Barbara. The outlook is stable.

"The raised rating is based on our local GO criteria released Sept. 12, 2013," said Standard & Poor's credit analyst Li Yang. "Should the city's financial position and flexibility score remain very strong and if the city reduces its large pension costs during the next few years, then we could raise the rating," Mr. Yang added.

The city has access to the broad and diverse economy of the Santa Maria-Santa Barbara metropolitan area in Southern California.

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