Standard&Poor's Ratings Services affirmed its 'AA' standard long-term rating on Glendale, Ariz.'s series 2007 GO bonds. Standard&Poor's also affirmed its 'AA' standard long-term rating and underlying rating (SPUR) on the city's preexisting GO debt. Based on recent additional information received by the issuer, the city's Financial Management Assessment (FMA) score was revised to 'strong' from 'good'. The rating on the city's debt was not changed. The ratings reflect the city's: Participation in the strong, diverse Phoenix MSA economic base; Large and growing property tax base; and Robust financial position. Credit factors that mitigate these strengths include the city's below-average per capita income and wealth levels; and above-average overall net debt burden, including all overlapping and direct
