S&P rates Gainesville, Fla., utility bonds AA, AA/A-1+

Standard & Poor's said it assigned an AA long-term rating to City of Gainesville, Fla.'s $105 million of system revenue bonds, taxable 2008 series A. S&P also gave an AA long-term rating and A-1+ short-term rating to the city's $90 million variable-rate utilities system revenue bonds, series 2008B, issued for Gainesville Regional Utilities (GRU).

At the same time, S&P affirmed its AA long-term rating and A-1+ short-term rating on GRU's $574 million of outstanding debt and it's A-1+ rating on the utility system's commercial paper program.

The outlook for all the bonds is stable.

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