If you need assistance, please call 480-365-8346

Arizona credit gets boost in ratings from Standard & Poor's on strong economic growth

Tuesday, July 30, 2024   /   by Juan Grimaldo

Arizona credit gets boost in ratings from Standard & Poor's on strong economic growth

2024-tsmc-deem-hills-east-41_900x506x5472-3078-0-285.jpg


Hot on the heels of Maricopa County being named No. 1 for economic growth nationwide, the state's development prospects have received another boost from the Standard & Poor's Global Ratings agency.
Late last week, S&P revised its outlook on Arizona's overall credit to positive from stable and affirmed its 'AA' issuer credit rating for the state, while also affirming its 'AA-' long-term rating on Arizona's general fund appropriation-secured certificates of participation, or COPs. The report noted that Arizona's surge in economic growth over the past two years was a key factor in the upgrade.
"The positive outlook reflects our view that strengthening reserves and ongoing revenue and expenditure management, supported by strong economic momentum that we expect will continue, could lead to upward rating potential should the state also demonstrate budgetary discipline that helps to mitigate future cyclical pressures on its finances," said S&P Global Ratings credit analyst Savannah Gilmore in a statement released July 25.
By Greg Barr – Editor in Chief, Phoenix Business Journal
find.png
The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395
480-365-8346


© 2024 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Juan Grimaldo - Keller Williams Realty Professional Partners - The Grimaldo Group (WINBACK) are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. November 3, 2024
This site powered by CINC: www.cincpro.com