Summary: Glendale, Arizona; Miscellaneous Tax Jun 11

Standard & Poors, June 2011

Abstract
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: Affirmed
Action: Outlook: Stable
Action: Removed From CreditWatch

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.

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.

Glendale,Glendale Mun Prop Corp,Western Loop 101 Public Facilities Corporation

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