The 'AA' rating on Glendale, Ariz.'s GO bonds reflects the city's: Participation in the strong, diverse Phoenix economic base; Average wealth and income indicators, Growing tax base, Historically strong financial position, Manageable debt burden with a rapid amortization. Glendale is in Maricopa County in the northwest portion of the Phoenix metropolitan area, approximately nine miles from downtown Phoenix, and benefits from strong historical population and economic growth. The local economy is centered on the aerospace, communications, health, chemical, and agriculture industries. Leading employers include Luke Air Force Base, Arrowhead shopping mall, Thunderbird Samaritan Health System, and Honeywell International Business-Jet. Income levels are about average with median household effective buying income (EBI) at 116% and 97% of the state and national
