Arizona

A ballot measure injecting $3.5 billion into Arizona's K-12 education passed by a razor thin margin for a result that S&P Global Ratings said could be a short-term positive for state and school district credits, with a much less certain long-term impact.

The Arizona legislature worked into early Wednesday morning to finish a controversial $9.6 billion budget package.

The University of Arizona is looking for interest rate savings in a $169.6 million refunding of three series of bonds issued from 2007 to 2009.

Arizona Gov. Doug Ducey has signed bipartisan pension overhaul legislation, though part of the plan must be approved by voters later this year.

Moody's Investors Service has upgraded Glendale, Ariz.'s rating to A2 from A3, citing improvements in the city's "modest" financial position.

Arizona State University’s "strong culture of innovation" should translate into improved credit quality over time, Moody's Investors Service said in a new report.

The Navajo Nation closed its first-ever bond transaction this week when it sold $52.9 million of investment-grade general obligation bonds in a private placement.

The Internal Revenue Service has sent a final notice to the City of Scottsdale, Ariz., Municipal Property Corp. claiming that some of the $65 million of bonds issued in 2013 to refinance the initial term of a lease for a garage are taxable.

Pima County, Ariz., voters delivered a harsh verdict Nov. 3, rejecting all seven bond propositions by decisive margins.

Standard & Poor's has withdrawn its D rating on a Glendale, Ariz., plant designed to convert trash into energy after the project defaulted on its October bond payment.

Phoenix Plans to Issue $117.9 million of revenue bonds for Sky Harbor Airport, whose traffic appears to be growing after dominant carrier U.S. Airways merged with American Airlines.

A Glendale, Ariz., trash recycling project has fallen to a D rating by Standard & Poor’s after missing its interest payments.

Arizona will have about a third of the money it needs to maintain roads and bridges over the next 25 years, according to the state auditor.

The three states that rely on the Colorado River for their water supplies will not face federal rationing in 2016, a fact that is credit positive for bond issuers in the region, according to Moody’s Investors Service.

Phoenix voters have approved a $31.7 billion transportation plan funded by an increase in a dedicated sales tax.

Car rental taxes collected for stadium bonds must be refunded after their use was found to violate the Arizona constitution, a Maricopa County Superior Court Judge Christopher Whitten has ruled.

The Internal Revenue Service claims that some of the bonds issued in 2013 by the Scottsdale, Ariz., Municipal Property Corp. to refinance the term of a lease for a garage are taxable.

Glendale, Ariz.'s renegotiated lease agreement with the National Hockey League's Arizona Coyotes is a positive factor in the Phoenix suburb's A3 credit rating, according to Moody's Investors Service.

Arizona is looking to reduce interest costs with $168 million of refunding certificates of participation on the heels of recent credit upgrades in an improving economy.

Midwestern University is making private loans to students in partnership with the Glendale Industrial Development Authority and the Illinois Finance Authority, which are coming to market with a total of $30 million of bonds that will fund additional lending.