CUSIP 71884AB81

• ISIN: US71884AB819
• Entity Name: City of Phoenix Civic Improvement Corporation
• Sector: Municipal Agency
• Announcement Date: *****
• Effective Date: *****
• Issue Date: *****
• Maturity Date: *****
• Country of Issuer: *****
• Region: N.Amer
• Issue Currency: *****
• CA Type: Rating Upgrade
• News: This material event notice is being filed by the City of Phoenix Civic Improvement Corporation (the "Corporation") relating to the Corporations previously issued Subordinated Excise Tax Revenue Bonds more particularly identified in Exhibit A attached hereto (the "Bonds"), pursuant to the Corporation`s continuing disclosure obligations related to the Bonds, to provide notice of a change in rating. On February 6, 2019, S&P Global Ratings ("S&P") announced that it raised its financial strength rating on the Bonds, to "AAA" from "AA+" with a stable outlook. Such revisions in ratings reflect the views of S&P and an explanation of the significance of such actions may only be obtained from S&P. There is no assurance that the ratings mentioned above will continue for any given period of time or that it will not be lowered or withdrawn entirely by S&P, if in its judgment, circumstances so warrant. Any such downward revision in or withdrawal of such ratings may have an adverse effect on the market price of the Bonds. The information in this material event notice has been compiled from sources believed to be reliable, but no warranties or guarantees as to the accuracy or completeness of such information are provided. Furthermore, the information set forth herein is provided as of the date set forth below, and there is no assurance that such information has not changed after the date hereof. This material event notice is dated February 11, 2019. For Bond Document please visit www.BondPDF.com
• Description: *****
• Bond Document: https://www.bondpdf.com/
• Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US71884AB819