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Standard & Poor's upgrades OV revenue bonds to A+

February 19, 2014

The Town of Oro Valley is proud to announce that Standard & Poor's (S&P) Ratings Services has raised the Town’s long-term rating on the Oro Valley Oracle Road Improvement District’s special assessment revenue bonds two notches, from A- to A+.

The report from S&P states: “The stable outlook reflects our view of Oro Valley's very strong and stable economy and management.”

“We are extremely pleased that Standard & Poor’s has recognized the Town for its strong management and budgetary practices,” said Oro Valley Finance Director Stacey Lemos. “To receive a two-notch upgrade on our outstanding debt in this slowly-recovering economy is rare.”

This excellent investment grade rating will allow the Town to access future capital on the bond market at much lower interest rates, thereby saving taxpayer dollars on the Town’s debt payments.

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