By Mike Sunnucks and Eric Jay Toll | Phoenix Business Journal
The city of Glendale’s credit score is getting some love after its cancellation of a 15-year, $225 million arena deal with Arizona Coyotes hockey team.
The Moody’s Investors Service bond and debt rating firm sees the Glendale City Council’s vote to nix the Coyotes deal as a positive toward its financial picture.
“Voting to cancel the 15-year arrangement is credit positive because it reduces the city’s costs related to professional sports enterprises and provides additional resources for critical services,” Moody’s analyists said in a new report Monday.
