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Article: Fitch Rates Pima County, AZ GOs 'AA-'; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Fitch Ratings assigns an initial 'AA-' rating to the Pima County, Arizona (the county) $113.1 million general obligation (GO) bonds, series 2009A. Fitch also assigns an 'AA-' rating to the county's $357.6 million in outstanding GO bonds (post refunding). The Rating Outlook is Stable.
The series 2009 bonds and outstanding parity bonds are direct and general obligations of the county, payable from an unlimited ad valorem tax levied against all taxable property in the county. Series 2009A proceeds will be used to finance various municipal improvements and to refund a portion of the county's outstanding GO debt for annual debt service savings.
The 'AA-' ...