...S&P Global Ratings raised its issuer credit rating (ICR) to '##' from '##-' on Queen Creek, Ariz. The outlook is stable. The raised rating reflects our view of the town's rapid economic expansion, which has moderated the taxpayer concentration and improved wealth and income indicators to levels we consider strong. The rating action further reflects the town's very strong financial management policies and practices, which have supported our view of strong budgetary performance and very strong flexibility. While the town maintains a large direct debt burden due to its growth-related infrastructure needs, it has made efforts in recent years to pay down debt early with funds on hand, and annual debt service carrying charges remain moderate and are further offset by our view of manageable pension contributions, which we believe limit the budgetary pressure from long-term obligations. Overall, we expect these credit factors will remain consistent throughout the near-term horizon....
