Summary: Springdale, Arkansas; Sales Tax

S&P Global Ratings reinstated its underlying rating on Springdale, Ark.'s series 2018 sales and use tax bonds at 'A+'. S&P Global Ratings also assigned its 'A+' underlying rating to the city's proposed series 2023A taxable $168.8 million sales and use tax refunding and improving bonds and proposed series 2023B $143.6 million sales and use tax refunding and improvement bonds. The outlook is stable. The rating reinstatement reflects our view of Springdale's credit fundamentals following receipt of the city's fiscal 2021 audit. We understand the delayed release of the audit was a continuation of the city's delayed audit the prior year, related to the annexation of a neighboring city. We believe that future financial reporting will be timely. The city intends

...(Editor's Note: We are republishing this article, originally published June 15, 2023, to correct an error related to the ability of the city to issue additional debt. The correction of this error does not affect the current rating. A corrected version follows.) Credit Profile...

Summary