CENTENNIAL (S&P Global Ratings) March 20, 2020--S&P Global Ratings affirmed its 'AA' long-term rating on Queen Creek, Ariz.'s existing series 2016, 2018A, and 2018B excise tax and state-shared revenue obligations and removed the rating from CreditWatch with positive implications, where it had been placed on Dec. 19, 2019. The outlook is stable. "Due to the removal of legal restrictions on three of the town's existing sales tax measures, pledged revenues increased by 23%," said S&P Global Ratings credit analyst Alyssa Farrell. "As a result, maximum annual debt service coverage has improved to a level we consider very strong." The town plans to issue approximately $75 million in additional debt in the near term, which will dilute coverage, but based on
