ENGLEWOOD (S&P Global Ratings) July 19, 2023--S&P Global Ratings has corrected by affirming its 'A+' underlying rating on Springdale, Ark.'s series 2023A and 2023B sales and use tax bonds. The outlook is stable. The rating action reflects our view following the discovery of an analytic error. Our previous report indicated that the series 2023A and 2023B bonds had a closed lien, but we note that the city actually has the authority to issue the remaining amount of voter authorized bonds, subject to an additional bonds test of 1.2x maximum annual debt service. The rating on the city's reinstated 2018 bonds was also affirmed, though it was not affected by the error. The bonds are secured by a pledge of a
