Standard&Poor's Ratings Services affirmed its 'A+' issuer credit rating (ICR) on Queen Creek Town, Ariz.'s general obligation (GO) bonds. At the same time, Standard&Poor's affirmed its 'BBB+' underlying rating (SPUR) on the town's series 2006 improvement bonds. The outlook is stable. The improvement bonds' rating reflects our view of the town's role as contingent guarantor of the town's improvement district's bonds. The ratings further reflect our view of the town's: Local employment base with access to the diverse Phoenix metropolitan statistical area (MSA) economy and its very strong household income levels and strong wealth levels; Maintenance of very strong reserves, currently at 78.5% of expenditures; and Good financial management policies and practices. Limiting rating factors, in
