Moody's raises Glendale, Ariz., water and sewer debt to A1

Moody's Investors Service said it upgraded to A1 from A2 the rating on Glendale, Ariz.'s $270 million of outstanding subordinate lien water and sewer bonds.

At the same time, Moody's assigned the A1 rating to the city's $65.5 million of subordinate lien water and sewer revenue obligations, series 2008.

Moody's also affirmed its Aa3 rating on the city's $19 million of outstanding senior lien combined utility obligations.

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