Bullhead City excise tax revenue and refunding bond rating raised to ‘AA’ from ‘A+’ on application of our criteria
S&P Global Ratings raised its underlying rating (SPUR) to ‘AA’ from ‘A+’ on Bullhead City Municipal Property Corp. (MPC), Ariz.’s existing series 2009 excise tax revenue and refunding bonds, issued on behalf of Bullhead City. At the same time, S&P Global Ratings assigned its ‘AA’ long-term rating to the city’s series 2019 excise tax revenue and revenue refunding obligations, which will fully refund the series 2009 bonds. The outlook is stable. “The raised rating reflects the application of our ‘Priority-Lien Tax Revenue Debt’ criteria, published Oct. 22, 2018, on RatingsDirect,” said S&P Global Ratings credit analyst Alyssa Farrell. Our assessment…