SAN FRANCISCO (Standard&Poor's) June 17, 2014--Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'AA-' from 'A+' on Queen Creek, Ariz.'s series 2007 excise tax and state-shared revenue obligations. The outlook is stable. "The rating action is based on our view of the town's improved coverage," said Standard&Poor's credit analyst Kate Burroughs. The rating reflects our view of the town's access to the diverse Chandler and Phoenix metropolitan statistical area economies, good legal provisions, and very strong coverage of future maximum annual debt service. The stable outlook reflects our anticipation that excise tax and state-shared revenue will continue to provide what we consider strong MADS coverage. RELATED CRITERIA AND RESEARCH Related Criteria USPF Criteria:
