S&P gives Phoenix airport bonds AA-

Standard & Poor's said it assigned its AA- rating to Phoenix Civic Improvement Corp., Ariz.'s $206.8 million of series 2008A senior airport revenue bonds, $43.2 million of series 2008B senior airport revenue bonds, $96.8 million of series 2008C senior revenue refunding bonds and $76.4 million of senior airport revenue refunding bonds, all issued for the Phoenix Sky Harbor International Airport.

The series 2008A bonds are due July 1, 2038, the series 2008B bonds are due July 1, 2020, the series 2008C are due July 1, 2021 and the series 2008D bonds are due July 1, 2020.

Additionally, S&P said it affirmed its AA- rating and underlying rating on the airport's outstanding senior-lien revenue bonds.

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