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Glendale, AZ Debt Ratings Corrected And Lowered To 'AA'

Published Mar 05, 2020

2 pages (1029 words) — Published Mar 05, 2020

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Abstract:

CENTENNIAL (S&P Global Ratings) March 5, 2020--S&P Global Ratings revised its ratings to 'AA' from 'AA+' on Glendale, Ariz.'s senior-lien excise tax revenue bonds and senior-lien excise tax revenue bonds, issued by Glendale Municipal Property Corp. Due to an error, the ratings on CUSIPs associated with the city's senior-lien excise tax revenue bonds and the senior-lien excise tax revenue bonds were not lowered to 'AA' from 'AA+' when we lowered the ratings on Dec. 31, 2019. We have since addressed this error and the ratings associated with all of the CUSIPs now reflect the current ratings. The outlook on the ratings is stable.

Brief Excerpt:

...March 5, 2020 CENTENNIAL (S&P Global Ratings) March 5, 2020--S&P Global Ratings revised its ratings to '##' from '##+' on Glendale, Ariz.'s senior-lien excise tax revenue bonds and senior-lien excise tax revenue bonds, issued by Glendale Municipal Property Corp. Due to an error, the ratings on CUSIPs associated with the city's senior-lien excise tax revenue bonds and the senior-lien excise tax revenue bonds were not lowered to '##' from '##+' when we lowered the ratings on Dec. 31, 2019. We have since addressed this error and the ratings associated with all of the CUSIPs now reflect the current ratings. The outlook on the ratings is stable....

Report Type:

Ratings Action

Issuer

Glendale

Sector

Public Finance

Country

United States

Region

United States

Format:

PDF

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:	S&P Global Ratings’ Credit Research. "Glendale, AZ Debt Ratings Corrected And Lowered To 'AA'" Mar 05, 2020. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Glendale-AZ-Debt-Ratings-Corrected-And-Lowered-To-AA-2393391>

APA:	S&P Global Ratings’ Credit Research. (). Glendale, AZ Debt Ratings Corrected And Lowered To 'AA' Mar 05, 2020. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Glendale-AZ-Debt-Ratings-Corrected-And-Lowered-To-AA-2393391>

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