Standard&Poor's Ratings Services assigned its 'AA-' standard long-term rating, and stable outlook, to Glendale, Ariz.'s series 2006A and 2006B street and highway user revenue bonds. Standard&Poor's also affirmed its 'AA-' standard long-term rating and Standard&Poor's underlying rating (SPUR), and stable outlook, on the city's preexisting street and highway user revenue debt. The ratings reflect: Steady pledged revenue growth and solid 3.4x maximum annual debt service (MADS) coverage from fiscal 2005 revenues, Glendale's strong diversified economic base ('AA' GO debt rating), Rapid maturity of debt and limited plans for additional parity debt, and Sound 2x historical additional bonds test. Mitigating factors include: The absence of a debt service reserve account, and The potential for changes
