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Analyzing Phoenix's Bond Rating Drop
On a previous edition of “The Show,” we talked with the city of Glendale’s finance director about decisions the city council was going to have to make pretty quickly to keep its economic troubles from getting worse, but what about Phoenix?
Standard and Poor’s, the large international credit rating agency, dropped the city’s bond rating from the best AAA to AA+. Dennis Hoffman, director of the Seidman Research Institute at Arizona State University’s W.P. Carey School of Business, said the rating is meant to help lenders assess the risk of various cities and states.