Phoenix Civic Improvement Corp., AZ Wastewater System Revenue Bonds Series 2011 Rated 'AA+' Nov 11

Standard & Poors, November 2011

Abstract
DALLAS (Standard & Poor's) Nov. 23, 2011--Standard & Poor's Ratings Services has assigned its 'AA+' rating to Phoenix Civic Improvement Corp., Ariz.'s series 2011 junior-lien wastewater system revenue refunding bonds, issued for the city of Phoenix. At the same time, Standard & Poor's has affirmed its 'AAA' rating on the corporation's senior-lien wastewater bonds outstanding and its 'AA+' rating on the corporation's junior-lien wastewater bonds outstanding. The rating outlook remains stable for both liens. "The ratings continue to reflect our view of the large and diverse economic and customer base of the city of Phoenix ('AAA' GO rating)," said Standard & Poor's credit analyst James Breeding. Additional credit strengths include: Very strong coverage of both senior- and junior-lien debt service;...

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

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: 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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