Fitch rates Ariz. stadium bonds A-

Fitch Ratings said it assigned an A- underlying rating to the Arizona Sports and Tourism Authority's $53.05 million of senior variable-rate demand revenue refunding bonds (multipurpose stadium facility project), series 2008.

Additionally, Fitch said it affirmed the A- rating on the authority's $224.5 million of parity bonds and the BBB rating on the authority's $28.97 million of subordinate bonds.

The bonds are scheduled to be sold by negotiation the week of May 12.

Fitch expects to assign a short-term rating based on a direct-pay letter of credit provided by Allied Irish Banks, plc nearer to the scheduled issue date.

The outlook is stable.

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