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troutman · 05-06-2011, 08:58 AM

Glendale could vote on reworked Phoenix Coyotes deal
Moody's Investors Service has withdrawn ratings on bonds
http://www.azcentral.com/community/g...otes-deal.html

The council received an update on the Coyotes from city executives in a closed-door session Tuesday, which lasted about 15 minutes, City Councilwoman Joyce Clark said.

Clark said the update could be characterized as "optimistic" and said "I do think there's time left on the clock" for the city to work things out to keep the team. She declined to provide more details.

Councilman Phil Lieberman said there is a "possibility" the council could vote on changes to the agreement next week. The council agenda, which lists the upcoming items up for a council vote, is typically released to the public Friday afternoon.

The city would face at least one snag if it continues to pursue some amount of bond financing for the deal.

Moody's Investors Service has withdrawn its ratings on bonds that Glendale planned to sell for the Coyotes deal.

The credit ratings agency withdrew its ratings because too much time elapsed without the bonds selling, said spokesman Abbas Qasim.

05-06-2011, 08:58 AM	#2015
troutman Unfrozen Caveman Lawyer Join Date: Oct 2002 Location: Crowsnest Pass Exp:	Glendale could vote on reworked Phoenix Coyotes deal Moody's Investors Service has withdrawn ratings on bonds http://www.azcentral.com/community/g...otes-deal.html The council received an update on the Coyotes from city executives in a closed-door session Tuesday, which lasted about 15 minutes, City Councilwoman Joyce Clark said. Clark said the update could be characterized as "optimistic" and said "I do think there's time left on the clock" for the city to work things out to keep the team. She declined to provide more details. Councilman Phil Lieberman said there is a "possibility" the council could vote on changes to the agreement next week. The council agenda, which lists the upcoming items up for a council vote, is typically released to the public Friday afternoon. The city would face at least one snag if it continues to pursue some amount of bond financing for the deal. Moody's Investors Service has withdrawn its ratings on bonds that Glendale planned to sell for the Coyotes deal. The credit ratings agency withdrew its ratings because too much time elapsed without the bonds selling, said spokesman Abbas Qasim.