DALLAS - Despite enviable credit ratings, the growing Phoenix suburb of Glendale, Ariz., discovered additional value in insuring $85.2 million of taxable and tax-exempt bonds for commercial development around the city's two major-league sports venues.

The city added insurance from Financial Security Assurance Inc. to obtain triple-A enhanced ratings from Standard & Poor's and Moody's Investors Service. Even city officials were surprised to find some incremental savings over their natural AA-plus from Standard & Poor's and Aa3 from Moody's. Fitch Ratings does not provide underlying ratings.

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