S&P Global Ratings assigned its 'AA' long-term rating to the Town of Queen Creek , Ariz.'s anticipated $237 million series 2026 certificates of participation (COPs). At the same time, we affirmed our 'AA+' issuer credit rating (ICR) on the town. The outlook is stable. DALLAS (S&P Global Ratings) Dec. 3, 2025--S&P Global Ratings today took the rating actions listed above. Like other Arizona local governments, Queen Creek faces natural capital risks from water supply stress, acute physical risks related to persistent drought conditions, and long-term physical climate risks such as extreme heat exposure. For more information on our view how the state is managing these risks, see " Arizona Water Utility And Local Governments Credit Brief: Future Rating Stability Boils
