Tucson, Arizona; Appropriations; General Obligation May 11
Standard & Poors, May 2011
Abstract
Standard & Poor's Ratings Services assigned its 'A+' rating to the City of Tucson, Ariz.'s series 2011 certificates of participation (COPs), which include both tax-exempt and taxable series as well as a taxable qualified energy conservation series (also taxable). We understand a portion the series 2011 COP proceeds will be used for refunding purposes and another portion will be used for capital projects. Standard & Poor's also affirmed its 'AA-' rating and underlying rating (SPUR) on the city's general obligation (GO) bonds outstanding and its 'A+' rating and SPUR on the city's COPs outstanding. Finally, Standard & Poor's affirmed its 'A-' rating on the city's series 1998 improvement bonds. The outlook is negative. The city's general credit characteristics include our...
Companies mentioned in this report are: Tucson,Rio Nuevo Multipurpose Facs Dist
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Tucson,Rio Nuevo Multipurpose Facs Dist
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