Glendale, AZ SPUR Outlook Revised To Stable On City's Intention To Not Use Water, Sewer Revenues For Arena-Related Costs - S&P Global Ratings’ Credit Research

Glendale, AZ SPUR Outlook Revised To Stable On City's Intention To Not Use Water, Sewer Revenues For Arena-Related Costs

Glendale, AZ SPUR Outlook Revised To Stable On City's Intention To Not Use Water, Sewer Revenues For Arena-Related Costs - S&P Global Ratings’ Credit Research
Glendale, AZ SPUR Outlook Revised To Stable On City's Intention To Not Use Water, Sewer Revenues For Arena-Related Costs
Published Mar 08, 2013
1164 words — Published Mar 08, 2013
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Abstract:

CHICAGO (Standard&Poor's) March 8, 2013--Standard&Poor's Ratings Services said that it revised the outlook on its underlying rating (SPUR) on Glendale, Ariz.'s water and sewer revenue bonds to stable from negative. At the same time, Standard&Poor's affirmed its 'AA' SPUR on the bonds. "The outlook revision reflects our understanding that it is the city's intent to not use the water and sewer fund to pay any additional arena costs related to fiscal 2013 or beyond," said Standard&Poor's credit analyst Scott Garrigan. During the 2012 fiscal year, the city funded a $25 million payment to the National Hockey League. The 'AA' rating reflects our view of the system's: Large service area with a diverse

  
Brief Excerpt:

RESEARCH Glendale, AZ SPUR Outlook Revised To Stable On City's Intention To Not Use Water, Sewer Revenues For Arena-Related Costs Publication date: 08-Mar-2013 Primary Credit Analyst: Scott D Garrigan, Chicago (1) 312-233-7014; scott_garrigan@standardan...

  
Report Type:

Ratings Action

Issuer
Glendale
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Glendale, AZ SPUR Outlook Revised To Stable On City's Intention To Not Use Water, Sewer Revenues For Arena-Related Costs" Mar 08, 2013. Alacra Store. May 18, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Glendale-AZ-SPUR-Outlook-Revised-To-Stable-On-City-s-Intention-To-Not-Use-Water-Sewer-Revenues-For-Arena-Related-Costs-1092126>
  
APA:
S&P Global Ratings’ Credit Research. (). Glendale, AZ SPUR Outlook Revised To Stable On City's Intention To Not Use Water, Sewer Revenues For Arena-Related Costs Mar 08, 2013. New York, NY: Alacra Store. Retrieved May 18, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Glendale-AZ-SPUR-Outlook-Revised-To-Stable-On-City-s-Intention-To-Not-Use-Water-Sewer-Revenues-For-Arena-Related-Costs-1092126>
  
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