Summary: Pima County, Arizona; Appropriations; General Obligation Oct 09

Standard & Poors, October 2009

Abstract
Standard & Poor's Ratings Services has assigned its 'AA-' long-term rating to Pima County, Ariz.'s series 2009A general obligation (GO) bonds and affirmed its 'AA-' long-term rating on the county's previously issued GO debt. The 'A+' long-term rating assigned to the county's series 2009A certificates of participation (COPs) and on the county's previously issued COPs reflect our view of: Pima County's covenant to budget and appropriate lease payments, Annual appropriation risk, and The general credit characteristics of Pima County. In our opinion, general credit characteristics of the county include: A deep and diverse local economic base, anchored by Tucson's role as a regional employment, education, and service center for southern Arizona; A diverse property tax base that has exhibited very...

Companies mentioned in this report are: Pima Cnty
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Pima Cnty

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