Arizona

Moody's Investors Service downgraded University Medical Center Corp.'s $330 million of debt to Baa2 and retained a negative outlook as a possible sale of the Tucson, Ariz. hospital develops.

Unpaid medical bills dropped 31% in the first four months of the year after Arizona expanded Medicaid coverage to the working poor, according to a survey by the Arizona Hospital and Healthcare Association.

Moody's Investors Service shifted its outlook on Arizona Sports and Tourism Authority's A1 rating to negative after a court overturned the car-rental tax backing $282 million of stadium bonds.

An Arizona judge has struck down a state car-rental tax that supports $1.2 billion of debt issued for professionals sports stadiums in the state.

Moody's Investors Service has placed the University Medical Center Corp.'s Baa1 rating on review for downgrade after the Tucson nonprofit posted a large operating loss in the first nine months of its fiscal year.

Phoenix will seek savings with a $290 million refunding of general obligation debt scheduled for the week of June 2.

After years of financial struggle, the outlook for Arizona School Facilities Board is improving with a $225 million refunding deal on tap.

Pima County, Ariz., Regional Transportation Authority will issue its second $150 million issue with an upgrade from Standard & Poor's.

Arizona schools are awaiting a ruling on how much the state owes local school districts for money withheld during the recession to help balance the state budget.

Arizona may need another two years to fully recover from the recession of 2008, according to economists at Arizona State University.

Arizona's $9.2 billion budget wins approval from Gov. Jan Brewer but disappoints counties seeking to offset revenue losses from tax break.

As they neared final passage of a $9.2 billion budget, Arizona lawmakers dropped a controversial plan to pay a $900,000 bonus to a private prison operator.

Mesa's plan to build a 1.9-mile light-rail extension using $200 million of revenue bonds does not require a public vote, a Maricopa County Superior Court judge ruled on April 1.

Despite a sharp drop in refunding opportunities for many issuers, Phoenix expects to see savings of 9.8% or $14.2 million from a $132 million deal this week.

Arizona's police and firefighters pension fund has been ordered to submit documents as part of a criminal investigation, according to the Arizona Republic.

Standard & Poor's lowered Glendale, Ariz.'s, general obligation bond rating to BBB-plus from A-minus based on the agency's new criteria and retained a negative outlook.

Last year's government shutdown brought 8 million fewer visitors to national parks, costing the parks and surrounding communities an estimated $414 million, according to a federal study.

Amid worsening drought that has lowered the level of Lake Mead, The Arizona Power Authority is preparing to issue $25 million of taxable revenue bonds for upgrades to the Hoover Dam.

Of the seven states taking water from the Colorado River, Arizona would face the greatest hardship in the event of a shortage allocation, according to a report from Moody's Investor’s Service.

Legislative limits on pension increases for retired judges and elected officials violate Arizona's constitution, the state Supreme Court ruled.