SAN FRANCISCO (Standard&Poor's) Aug. 25, 2014--Standard&Poor's Ratings Services raised its issuer credit rating (ICR) to 'AA-' from 'A+' on Queen Creek Town, Ariz. At the same time, Standard&Poor's raised its underlying rating (SPUR) to 'A-' from 'BBB+' on Queen Creek Town Improvement District No.001's series 2006 improvement bonds. The outlook is stable. "The ratings reflect our view of the town's very strong reserves, which provide a cushion against its reliance on what we consider volatile revenue streams," said Standard&Poor's credit analyst Kate Burroughs. "If building activity were to become stagnant, causing the town's financial flexibility to suffer, we could lower the rating," Ms. Burroughs added. The town serves a population of roughly
