Finance officials in Buffalo, N.Y., are claiming victory after credit raters affirmed the city's bond ratings and removed a negative outlook in advance of a $34.3 million negotiated bond sale scheduled for this week.

Standard & Poor's Corp. revised its outlook on Buffalo to stable from negative, assigning a BBB rating to both a $9.66 million and a $10 million general obligation bond series. The rating agency also assigned an A-minus to a $14.64 million bond series for the city's public schools.

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