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: New Rating
Action: Outlook: Stable
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