S&P Global Ratings assigned its 'AA+' long-term rating to Town of Queen Creek, Ariz.'s estimated $69.7 million series 2024 excise tax and state-shared revenue obligations. At the same time, we affirmed our 'AA+' long-term rating on the city's existing excise tax and state-shared revenue obligations. The outlook is stable. Installment payments by the town under a purchase agreement between the town and the trustee secure the excise tax revenue obligations. Payments are not subject to appropriation and are secured by a first lien on the town's excise taxes, which include transaction privilege (sales), state-shared sales, income, and vehicle license taxes, franchise fees, licenses and permits, charges for services, and construction sales tax. Proceeds from the 2024 pledged revenue obligations will
