S&P rates Arizona COPs AA-

Standard & Poor's said it assigned an AA- standard long-term rating and stable outlook to Arizona's $239 million of series 2008A certificates of participation (COPs).

At the same time, S&P said it affirmed the AA- underlying rating and stable outlook on the state's previously issued COPs as well as COPs and lease-revenue debt issued by Arizona School Facilities Board and Phoenix Industrial Development Authority for the state.

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