Standard & Poor’s Ratings Services recently announced that it is raising its long-term rating and underlying rating (SPUR) on Gilbert, Arizona’s general obligation (GO) bonds from an ‘AA’ to an ‘AA+’ and it’s community’s improvement district bonds to an ‘A+’ from ‘A’.
The report details that the upgraded ratings reflect their assessment of Gilbert’s strong local economy, management conditions, and financial and budgetary practices.
The report found, “Gilbert’s local economy is strong, with per capita market value and projected per capita effective buying income at roughly $82,600 and 103% of the national average, respectively. The town serves an estimated population of 222,300 in Maricopa County 35 miles southeast of Phoenix. Gilbert has experienced significant growth due to its access to the Phoenix metropolitan statistical area (MSA) and favorable land and housing prices.”
