NEW YORK (Standard&Poor's) April 22, 2008--Standard&Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to the Arizona Transportation Board's $196.985 million series 2008A highway revenue bonds. At the same time, Standard&Poor's affirmed its 'AAA' rating and underlying rating (SPUR), with a stable outlook, on the board's outstanding parity senior-lien highway revenue bonds and its 'AAA' rating on the board's subordinate-lien highway revenue bonds. The ratings reflect a growing and diverse statewide economic base of 6.3 million people generating pledged transportation-related revenue; debt service coverage (DSC) that continues to be very strong, with 6.67x MADS coverage for the senior-lien bonds, based on actual pledged revenues for fiscal 2007, and 4.59x MADS coverage for the
