OREANDA-NEWS. S&P Global Ratings raised its issuer credit rating (ICR) to 'AAA' from 'AA+' on Arvada, Colo. In addition, S&P Global Ratings assigned its 'AA+' long-term rating to the city's series 2016 certificates of participation (COPs). The outlook is stable.

"The rating action reflects our view of the city's improved wealth and income indicators and of the city's increased available reserves as a result of positive general fund performances in recent years," said S&P Global Ratings credit analyst Michael Parker.

The 'AA+' rating on the series 2016 COPs is based on our opinion of the appropriation risk associated with lease payments made by the city, as lessee, to UMB Bank, as lessor, for the use and possession of the leased assets (police substations and a wastewater administration building).