Phoenix Civic Improvement Corp./Phoenix, AZ's Senior-Lien Excise Tax Revenue Bonds Rated `AA+' Jun 99

Standard & Poors, June 1999

Abstract
NEW YORK (Standard & Poor's CreditWire) June 30, 1999-- Standard & Poor's today assigned its double-'A'-plus rating to Phoenix Civic Improvement Corp., Ariz.'s $94 million senior-lien excise tax revenue bonds series 1999A and 1999B dated June 1, 1999, due July 1, 2029, issued for Phoenix, Ariz. The bonds are expected to sell around July 6, 1999. Additionally, Standard & Poor's affirmed Phoenix's outstanding debt (see list). The rating reflects the city's: -- Diverse economic base (double-'A'-plus GO rating), -- Strong growth in pledged revenues, -- Historically excellent debt service coverage (DSC), and -- Very strong 4 times (x) senior-lien additional bonds test. The bonds are secured by a senior-lien on the city's excise taxes, including transactions; privilege; franchise; and business...

Companies mentioned in this report are: Phoenix Civ Imp Corp
Action: New Rating

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Phoenix Civ Imp Corp

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