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Arizona Transportation Board's Highway Bonds Rated 'AAA' on Extremely Strong Debt Coverage

Published Feb 22, 2002

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Abstract:

SAN FRANCISCO (Standard&Poor's) Feb. 22, 2002--Standard&Poor's today assigned its triple-'A' rating to the Arizona Transportation Board's $73.26 million highway revenue refunding bonds series 2002A. The bonds are scheduled to sell March 7, 2002. In addition, Standard&Poor's affirmed its triple-'A' rating on the board's debt outstanding. The outlook is stable. The rating reflects the following credit strengths: -- Strong legal provisions consisting of a historic 4.0 times (x) maximum annual debt service (MADS) additional bonds test for the senior-lien bonds; -- Continued strong debt service coverage with 8.12x MADS coverage (including these bonds) for the senior lien, based on actual pledged revenues for fiscal 2001; and -- Sound and conservative management of the highway program

Report Type:

Ratings Action

Issuer

Arizona Transportation Board

Sector

Public Finance

Country

United States

Region

United States

Format:

PDF

Summary: Arizona Transp Brd; Tax Secured, Gas Tax – 2002/02/27 – US$ 225.00

Arizona Transportation Board; Tax Secured, Gas Tax; Tax Secured, Miscellaneous Tax; Tax Secured, Sales Tax – 2002/07/15 – US$ 500.00

Summary: Arizona Transp Brd; Tax Secured, Gas Tax; Tax Secured, Miscellaneous Tax; Tax Secured, Sales Tax – 2002/07/15 – US$ 225.00

Arizona Transportation Board; Tax Secured, Gas Tax – 2002/10/02 – US$ 500.00

Summary: Arizona Transp Brd; Tax Secured, Gas Tax – 2002/10/02 – US$ 225.00

Summary: Arizona Transp Brd; Tax Secured, Gas Tax – 2002/01/03 – US$ 225.00

Arizona Transportation Board's Highway Revenue Bonds Rated 'AAA' – 2002/01/02 – US$ 150.00

Summary: Arizona Transp Brd; Tax Secured, Gas Tax; Tax Secured, Miscellaneous Tax; Tax Secured, Sales Tax – 2001/10/16 – US$ 225.00

Arizona Transportation Board; Tax Secured, Gas Tax; Tax Secured, Miscellaneous Tax; Tax Secured, Sales Tax – 2001/10/15 – US$ 500.00

Arizona Transp Brd's Excise Tax Rev Bnds Rated 'AA'; Outstg Debt Affirmed at 'AA'&'A' (SPUR) – 2001/10/12 – US$ 150.00

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MLA:	S&P Global Ratings’ Credit Research. "Arizona Transportation Board's Highway Bonds Rated 'AAA' on Extremely Strong Debt Coverage" Feb 22, 2002. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Arizona-Transportation-Board-s-Highway-Bonds-Rated-AAA-on-Extremely-Strong-Debt-Coverage-232219>

APA:	S&P Global Ratings’ Credit Research. (). Arizona Transportation Board's Highway Bonds Rated 'AAA' on Extremely Strong Debt Coverage Feb 22, 2002. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Arizona-Transportation-Board-s-Highway-Bonds-Rated-AAA-on-Extremely-Strong-Debt-Coverage-232219>

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