Avondale, AZ GO Rating Raised To #AA-# On Application Of New GO Criteria

Stocks and Financial Services Press Releases Wednesday September 25, 2013 16:26
SAN FRANCISCO--25 Sep--Standard & Poor's

SAN FRANCISCO (Standard & Poor's) Sept. 24, 2013--Standard & Poor's Ratings Services raised its rating on Avondale, Ariz.'s general obligation (GO) bonds to 'AA-' from 'A+'. The outlook is stable. The upgrade is based on the application of our recently released local GO criteria.

"We view the city's financial performance as consistent and supported by very strong management," said Standard & Poor's credit analyst Kate Burroughs.
We expect that the city will maintain reserves at strong levels and that its continued participation in the broad and diverse Phoenix metropolitan statistical area will provide stability.

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