NEW YORK (Standard&Poor's) June 17, 2004--Standard&Poor's Ratings Services raised its rating on Glendale, Ariz.'s street and highway user revenue bonds one notch to 'AA-' from 'A+' due to steady pledged revenue growth, combined with ongoing population growth and good debt service coverage. The rating agency also assigned its 'AA-' rating, and stable outlook, to the city's $14.68 million series 2004 street and highway user revenue and refunding bonds. The bonds are scheduled to sell June 22. "We believe the city's allocation of highway user revenues will continue to grow based on population growth and statewide highway user revenue trends," said Standard&Poor's credit analyst Sussan Corson. The rating reflects the city's strong diversified economic base
