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Article: CALIFORNIA: San Ramon Nets S&P AAA.
- Article from:
- The Bond Buyer
- Article date:
- June 20, 2008
- Author:
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Standard & Poors upgraded its issuer credit rating for San Ramon to AAA from AA Wednesday, citing the citys 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 regions 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 & Poors analyst Li Yang in San Francisco said in an interview.
The thing that stood out the most for me was their very high unreserved fund balance, Yang said.
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