...S&P Global Ratings raised its long-term rating and underlying rating (SPUR) to '##+' from '##' on Queen Creek, Ariz.'s issuer credit rating (ICR). The outlook is stable. The raised rating reflects our view of the town's continued strong economic growth, which has contributed to an improvement in wealth and income metrics and a consistently strong revenue trend. We believe the town has proven successful in absorbing ongoing rapid economic expansion while managing its growing budget. The town's reserve position has been growing historically and has improved to 74% of general fund expenditures (net of its committed pension reserves) in fiscal 2021, which we expect will continue to increase in the near term, providing a significant cushion as the town continues to navigate future development. The ICR reflects our forward-looking opinion of Queen Creek's overall creditworthiness, focusing on the town's capacity and willingness to meet its financial commitments as they come due. The ICR is not...
