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Arizona Transportation Board's Highway Revenue Bonds Rated 'AAA'

Published Jan 02, 2002

571 words — Published Jan 02, 2002

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Abstract:

SAN FRANCISCO (Standard&Poor's) Jan. 2, 2002--Standard&Poor's today assigned its triple-'A' rating to the Arizona Transportation Board's $142.17 million highway revenue bonds series 2002. The bonds are scheduled to sell on Jan. 15, 2002. 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 9.1x MADS coverage (including these bonds) for the senior liens based on actual pledged revenues for fiscal 2001; and -- Sound and conservative management of the highway program with a board commitment to maintain 5.0x MADS coverage on the senior lien

Brief Excerpt:

RESEARCH Arizona Transportation Board's Highway Revenue Bonds Rated '###' Publication date: 02-Jan-2002 SAN FRANCISCO (Standard & Poor's) Jan. 2, 2002--Standard & Poor's today assigned its triple-'A' rating to the Arizona Transportation...

Report Type:

Ratings Action

Issuer

Arizona Transportation Board

Sector

Public Finance

Country

United States

Region

United States

Format:

PDF

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MLA:	S&P Global Ratings’ Credit Research. "Arizona Transportation Board's Highway Revenue Bonds Rated 'AAA'" Jan 02, 2002. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Arizona-Transportation-Board-s-Highway-Revenue-Bonds-Rated-AAA-225641>

APA:	S&P Global Ratings’ Credit Research. (). Arizona Transportation Board's Highway Revenue Bonds Rated 'AAA' Jan 02, 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-Revenue-Bonds-Rated-AAA-225641>

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