S&P Global Ratings assigned its 'AA' long-term rating to Queen Creek, Ariz.'s series 2018A and 2018B excise tax and state-shared revenue obligations. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the town's excise tax and state-shared revenue refunding obligations outstanding. The outlook is stable. The series 2018 bonds are secured by a first lien of excise taxes, which include transaction privilege (sales) taxes, state-shared revenues, and franchise fees, and will be on parity with the town's series 2014A Greater Arizona Development Authority (GADA) loan and series 2016 excise tax and state-shared revenue obligations. Proceeds from the series 2018 bonds will be used to finance various street and public safety capital improvements. The rating reflects our
