Summary: Queen Creek, Arizona; Miscellaneous Tax

S&P Global Ratings placed its 'AA' long-term rating on Queen Creek, Ariz.'s series 2016, 2018A, and 2018B excise tax and state-shared revenue obligations outstanding on CreditWatch with positive implications. The CreditWatch placement reflect our view that recent improvements to the obligations' revenue streams, as posted by Queen Creek in its required Electronic Municipal Market Access (EMMA) reporting, may be sufficient to support a higher rating. We believe there is a one-in-three chance that we could raise the rating. We also consider secondary credit factors such as revenue stability, bond covenants, and sector and issuer-specific analysis, as well as peer analysis. We will evaluate the impact of the improved revenue structure on the outstanding bonds and structural features relative to our

...S&P Global Ratings placed its '##' long-term rating on Queen Creek, Ariz.'s series 2016, 2018A, and 2018B excise tax and state-shared revenue obligations outstanding on CreditWatch with positive implications. The CreditWatch placement reflect our view that recent improvements to the obligations' revenue streams, as posted by Queen Creek in its required Electronic Municipal Market Access (EMMA) reporting, may be sufficient to support a higher rating. We believe there is a one-in-three chance that we could raise the rating. We also consider secondary credit factors such as revenue stability, bond covenants, and sector and issuer-specific analysis, as well as peer analysis....

Summary