ENGLEWOOD (S&P Global Ratings) June 15, 2023--S&P Global Ratings reinstated its underlying rating on Springdale, Ark.'s series 2018 sales and use tax bonds at 'A+'. At the same time, we assigned our 'A+' underlying rating to Springdale's proposed series 2023A taxable $168.8 million sales and use tax refunding and improving bonds and proposed series 2023B $143.6 million sales and use tax refunding and improvement bonds. The outlook is stable. On April 12, 2023, we withdrew the rating on the series 2018 bonds due to insufficient information, specifically a lack of timely financial data. "The rating reinstatement reflects our view of Springdale's credit fundamentals following receipt of the city's fiscal 2021 audit," said S&P Global Ratings credit analyst Jackie Dove. The
