Standard&Poor's Ratings Services affirmed its 'AA' long-term rating and underlying rating (SPUR) on Glendale, Ariz.'s general obligation bonds, series 2004 (for bonds maturing 2014-2019), 2006 (maturing 2017-2021), 2006B (maturing 2011-2015), and 2007 (maturing 2020 and 2022). The outlook is stable. The bonds are on parity with other obligations secured by the city's GO pledge. For more information on the credit quality of the city's GO bonds, please see our report published Dec. 4, 2009, on RatingsDirect on the Global Credit Portal. The stable outlook reflects our expectation that the city's economy will stabilize and revenues will flatten out, allowing for continued strong financial reserves. If the economy continues to weaken and financial reserves decrease substantially, the rating could
