Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to Maricopa County Community College District (CCD), Ariz.'s general obligation (GO) refunding bonds series 2012. At the same time, Standard&Poor's affirmed its 'AAA' rating, with a stable outlook, on the district's parity GO debt outstanding. The ratings reflect what we view as: A deep and diverse economic base encompassing the Phoenix metropolitan statistical area (MSA); The district's diverse property tax base and ability to raise tax rates to maintain property tax revenue despite significant declines in secondary assessed valuation (AV) in the previous three years; Good financial policies and management practices, coupled with the CCD's ability to cut class offerings at will, which somewhat mitigates
