Standard & Poor's Ratings Services said it raised its rating to AA-plus from AA on the Regional Transportation Authority of Pima County, Ariz.'s transportation excise tax revenue bonds (Pima County Public Transportation Fund).
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At the same time, Standard & Poor's assigned its AA-plus long-term rating to the authority's series 2014 excise tax revenue bonds. The outlook is stable.
"The raised rating is based on our view of recent growth in pledged revenues, accompanied by a robust economic recovery," said Standard & Poor's credit analyst Sarah Sullivant.
