- Published: May 2012
- Region: United States
Summary: Tempe, Arizona; Miscellaneous Tax; Sales Tax May 09
- Published: May 2009
- Region: Arizona
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AAA' rating to Tempe, Ariz.'s $24.05 million series 2009 excise tax revenue obligations and affirmed its 'AAA' rating and underlying rating (SPUR) on all outstanding parity excise tax obligations. The rating reflects our view of: The city's very broad and deep economic base (Tempe: 'AAA' general obligation rating) that fully participates in the greater Phoenix metropolitan area; A strong pledged revenue stream that has been steadily rising over the past five years, although is estimated to decline 5% in fiscal 2009 given the current economic slowdown in the region and city; Extremely strong coverage of maximum annual debt service (MADS), estimated at 17x for 2009; and Good bond provisions, with an additional bonds...
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Action: New Rating
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