DALLAS — Facing the same revenue squeeze choking every Arizona city, Tucson took a hit to its strong credit ratings as it prepares to market $100 million of certificate of participation next month.

Fitch Ratings dropped Tucson’s general obligation bonds to AA from AA-plus and attached a negative outlook, meaning further downgrades could be in store going forward. Standard & Poor’s, which downgraded the debt to AA-minus last year, also assigned a negative outlook ahead of the upcoming deal. Moody’s Investors Service has not yet issued its opinion.

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