Queen Creek’s 2-notch upgrade from Fitch ‘unusual,’ credit rating exec says
Credit rating firm upgrades Queen Creek from A+ to AA
by Wendy Miller | Queen Creek Indepdent
Image: Solvency Ii Wire
Fitch Ratings has assigned an “AA” rating to the town of Queen Creek obligation of $46.88 million excise tax and state-shared revenue refunding obligations, series 2016, according to a Fitch press release.
Fitch also upgraded the town’s long-term issuer default rating as well as its $21.6 million (pre-funding) excise tax and state-shared revenue obligations, series 2007 to “AA” from “A+,” according to the release.
Queen Creek Town Manager John Kross said the town was elated to have received a two-notch upgrade.
“We were elated Fitch gave us a double upgrade, which is so rare,” Mr. Kross said during a phone interview. “They usually go up one notch at a time.”
