Queen Creek’s Certificates of Participation Rated ‘AA’ as the Town Prepares to Fund Water Acquisition Strengthening its Water Future
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Standard & Poor’s (S&P) and Fitch Ratings, leading providers of credit ratings, both assigned a ‘AA’ rating to the Town of Queen Creek’s Certificates of Participation (COP). S&P and Fitch Ratings also affirmed the Town’s Issuer Credit Rating (ICR) at ‘AA+’, one notch below the highest possible rating, with a stable outlook.
The COP ratings are significant as the Town prepares to fund the purchase of 1.2-million-acre feet of water (over 100 years) from Harquahala Valley. The purchase will be funded with COPs and a Water Infrastructure Financing Authority (WIFA) loan.