Glendale, AZ Excise Tax Debt Outlook Revised To Negative From Stable Due To Declining Debt Service Coverage Jan 12
- Language: English
- Published: January 2012
Standard & Poor's Ratings Services affirmed its 'AA+' rating on Glendale, Ariz.'s series 14 and 16 certificates of participation (COPs) and its 'AA' rating on Western Loop 101 Public Facilities Corp.'s third-lien excise-tax revenue bonds, issued for the city and removed the ratings from CreditWatch, where they were placed with negative implications Feb. 24, 2011. The removal from CreditWatch on these bonds follows city officials' representation that there are no plans for significant additional parity debt on these liens at this time. The outlook on the bonds is stable. At the same time, Standard & Poor's affirmed its 'AA+' long-term rating, and stable outlook, on Glendale Municipal Property Corp., Ariz.'s first-lien excise tax revenue bonds. The ratings reflect what we...
Companies mentioned in this report are: Glendale,Glendale Mun Prop Corp,Western Loop 101 Public Facilities Corporation
Action: Outlook: Stable
Action: Removed From CreditWatch
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Glendale,Glendale Mun Prop Corp,Western Loop 101 Public Facilities Corporation