...Sparks, NV (Aa3) benefits from a growing economy, supporting above-average resident income levels of 112% and full value per capita approaching $140,000. The city has strong fund balance and liquidity ratios of 90% and 109% of revenue, respectively, resulting from continued revenue growth and conservative budgeting, and moderate leverage at 242% of revenue and fixed costs of 5% of revenue. Sparks Tourism Improvement District No. 1, NV special tax bonds (Baa2) benefit from ongoing revenue growth and extra debt service payments under the bond's turbo clause, both of which have improved annual and maximum debt service coverage to 1.8x and 1.7x, respectively. The district has a very small and concentrated sales tax base with continued tenant turnover risk. On February 27, 2024 Moody's upgraded the city's issuer rating to Aa3 from A1 and upgraded the Tourism Improvement District No. 1 special tax rating to Baa2 from Ba1....