Summary: Maricopa County Unified School District No. 48 (Scottsdale), Arizona; General Obligation Nov 10

Standard & Poors, November 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating to Maricopa County Unified School District No. 48 (Scottsdale), Ariz.'s series 2010A-1, 2010A-2, and 2010A-3 general obligation (GO) bonds. In addition, Standard & Poor's affirmed its 'AA' rating and underlying rating (SPUR) on the district's outstanding GO bonds. The ratings reflect our view of the following credit strengths of the district: Significant financial flexibility given voter-approved tax overrides that provided more than $26 million in additional revenues to the district in fiscal 2010 (16% of general fund expenditures), helping it to maintain strong contingency balances as well as providing additional funding; Its maintenance of adequate budget balance carryovers as percent of its revenue control limit (RCL) in recent years, projected at...

Companies mentioned in this report are: Maricopa Cnty Unif Sch Dist #48 Scottsdale
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

Maricopa Cnty Unif Sch Dist #48 Scottsdale

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