Standard&Poor's Ratings Services affirmed its 'A' issuer credit rating on Queen Creek Town, Ariz. The outlook is stable. The rating reflects our view the town's: Access to the diverse Chandler and Phoenix MSA economies, and strong income indicators; Maintenance of very strong reserves, as evidenced by an unreserved fund balance equal to 62% of fiscal 2010 expenditures despite declining revenues; and Good financial management policies and practices. The preceding credit strengths are offset in part by our view of the town's high overall debt burden, elevated carrying charges, and below-average amortization of principal. Queen Creek is located in Maricopa County, about 38 miles southeast of Phoenix and 14 miles southeast of Chandler, Ariz. Between fiscal 2005 and fiscal
