Summary: Maricopa County Unified School District No. 80, Arizona; General Obligation Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating to Maricopa County Unified School District No. 80, Ariz.'s series 2012 general obligation (GO) refunding bonds. In addition, Standard & Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the district's GO bonds outstanding. The outlook on all ratings is stable. The ratings reflect our view of the district's: Diverse local economic base, with access to additional employment opportunities throughout the Phoenix MSA; Strong financial position bolstered by electorate support of an override for operations; Strong property tax base despite recent declines, as demonstrated by a very strong market value per capita; and Low to moderate debt levels. These credit strengths are partially offset by our view of: The...

Companies mentioned in this report are: Maricopa Cnty Unif Sch Dist #80 Chandler
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.

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 #80 Chandler

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