The rating on Maricopa County Community College District, Ariz.'s. bonds reflects: * A broad and expanding economic base encompassing the Phoenix metropolitan area, * Solid financial operations, and * Moderate, but manageable, debt. Coterminous with Maricopa County in central Arizona, the district is the second-largest community college system in the nation—providing lower-level undergraduate courses, job training services, and other academic programs to a large and diverse economic area. Enrollment (168,200, or 46,200 full-time equivalent) headcount has grown steadily over the past four years, following a two-year decline in the early 1990s. Overall demand trends remain stable. The Phoenix area economy continues to grow and diversify, attracting new high-technology manufacturers and service jobs. Incomes are 10% above state averages, although slightly
