Standard&Poor's Ratings Services has affirmed its 'AA+' underlying rating (SPUR) on Maricopa County Community College District (MCCCD), Ariz.'s revenue bonds. The rating outlook is stable. The 'AA+' rating reflects our view of the district's strong operating performance and broad tax base in Maricopa County, which supports more than 50% of the district's operating revenues. This is one of our higher rated community college revenue-secured debt ratings, and currently one of only two community colleges rated 'AA+'. In our view, credit factors that support the rating include the district's: Broad economic and tax base of Maricopa County ('AAA'); Large enrollment base for the district's 10 colleges and two skill centers, with 62,562 full-time equivalent (FTE) students in fall 2011
