For real estate investors, the improved ratings are considered good news, area brokers tell GlobeSt.com.
The city has rallied from November 1996 when elected officials declared a financial state of emergency with a project accumulated deficit of $68 million or 25% of the budget for 1997.
"An improved economic climate has aided the city's return to fiscal stability, as has revenue diversification," S&P credit analyst Robin Prunty says in a prepared statement.
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