Tucson Arizona Certificates Participation

CITY· AZ· Unclaimed profile

Outstanding (EMMA est.)—

RatingsAa2 Moody's · AA S&P · AAA Fitch

Last filingJul 2026

Compiled from MSRB EMMA & public records · read-only public record · debt as of Sep 11, 2026 · latest trade Sep 11, 2026 · latest filing Jul 29, 2026

Credit ratings

agency-stated

Moody's

Aa2

13 rated securities · insured

S&P

47 rated securities · insured

Fitch

AAA

13 rated securities · insured

KBRA

AA+

2 rated securities · insured

Outstanding par by rating agency and grade
Agency	Rating	Par	Share	CUSIPs
Moody's	Aa2	$102.7M	79.3%	11
	A1	$26.7M	20.7%	2
Fitch	AAA	$102.7M	79.3%	11
	A+	$26.7M	20.7%	2

Par-weighted mix of agency grades across the outstanding securities EMMA lists for this issuer; shares are of each agency’s rated par. A split usually reflects distinct liens or credits under one issuer, not disagreement about a single credit.

Maturity profile

par maturing by year · as of Sep 2026

Recent activity

rating actions & filings

Other Financial / Operating Data filed

Jul 29, 2026 · Other Financial / Operating Data: Incorporate OS by Reference

Official statement posted

Jul 22, 2026 · GENERAL OBLIGATION BONDS, SERIES 2018-C (2026)

Official statement posted

Jul 14, 2026 · GENERAL OBLIGATION BONDS, SERIES 2018-C (2026)

S&P Initial — AA (Stable)

Jun 26, 2026 · Tucson, AZ Series 2026 Water System Revenue Refunding Bonds Ass…

Moody's Upgrade — Aa2

Jun 25, 2026 · Moody’s has upgraded their issuer rating to Aa2 from Aa3 to the…

S&P Initial — AA (Stable)

Jun 25, 2026 · Tucson, AZ Series 2018-C GO Bonds Assigned 'AA' Rating; Outlook…

In context

Larger than 96% of AZ issuers by debt outstanding · #24 of 542

Debt overview

EMMA-derived

Outstanding par (EMMA est.)—

Securities50

Callable25%

Outstanding securities

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Outstanding securities for Tucson Arizona
CUSIP	Series / description	Coupon	Maturity	Outstanding	Ratings	First call
898735QM0	TUCSON ARIZ CTFS PARTN COPS 2011 (AZ)*	6.049%	Jan 1, 2027	$480,000	S&P AA	July 1, 2021
898735UA1	TUCSON ARIZ CTFS PARTN TAXABLE REF COPS 2020 (AZ)*	1.598%	Jul 1, 2027	$4,420,000	S&P AA	—
898735KZ7	TAXABLE	5.87%	Jul 1, 2027	$1,495,000	—	—
898735UL7	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	1.307%	Jul 1, 2027	$21,315,000	S&P AA	—
898735SD8	TUCSON ARIZ CTFS PARTN COPS 2014 (AZ)*	4.306%	Jul 1, 2027	$1,050,000	S&P AA	—
898735PM1	TUCSON ARIZ CTFS PARTN CTFS PARTN 2010-A (AZ)*	6.45%	Jul 1, 2027	$5,590,000	Moody’s A1S&P AAFitch A+Kroll AA+	—
898711W77	TUCSON ARIZ GO BDS 2018-A 2020 (AZ)*	5.0%	Jul 1, 2027	$2,000,000	S&P AA	—
898735ST3	TUCSON ARIZ CTFS PARTN COPS 2014 (AZ)*	5.0%	Jul 1, 2027	$3,500,000	S&P AA	—
898711X84	TUCSON ARIZ GO BDS 2018-B (2024) (AZ)*	5.0%	Jul 1, 2027	$10,000,000	—	—
898735TR6	TUCSON ARIZ CTFS PARTN REF COPS 2016 (AZ)*	5.0%	Jul 1, 2027	$3,995,000	S&P AA	July 1, 2026
898711R81	TUCSON ARIZ GO BDS 2012-B (2014) (AZ)*	3.0%	Jul 1, 2027	$5,000,000	S&P AA	July 1, 2024
898735LV5	—	4.375%	Jul 1, 2027	$1,470,000	—	—
898711Y83	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2027	$2,000,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2027
898735UM5	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	1.457%	Jul 1, 2028	$21,595,000	S&P AA	—
898735TS4	TUCSON ARIZ CTFS PARTN REF COPS 2016 (AZ)*	3.0%	Jul 1, 2028	$2,660,000	S&P AA	July 1, 2026
898711W85	TUCSON ARIZ GO BDS 2018-A 2020 (AZ)*	5.0%	Jul 1, 2028	$2,095,000	S&P AA	—
898711Y91	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2028	$8,300,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2028
898735SU0	TUCSON ARIZ CTFS PARTN COPS 2014 (AZ)*	5.0%	Jul 1, 2028	$3,605,000	S&P AA	—
898711X92	TUCSON ARIZ GO BDS 2018-B (2024) (AZ)*	5.0%	Jul 1, 2028	$9,500,000	—	—
898735SE6	TUCSON ARIZ CTFS PARTN COPS 2014 (AZ)*	4.406%	Jul 1, 2028	$1,095,000	S&P AA	—
898735UB9	TUCSON ARIZ CTFS PARTN TAXABLE REF COPS 2020 (AZ)*	1.861%	Jul 1, 2028	$4,210,000	S&P AA	—
898735NE1	—	—	Jul 1, 2028	—	—	—
898711Z25	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2029	$8,750,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2029
898735ND3	TUCSON ARIZ CTFS PARTN BDS (AZ)*	5.0%	Jul 1, 2029	$7,685,000	—	—
898735SF3	TUCSON ARIZ CTFS PARTN COPS 2014 (AZ)*	4.506%	Jul 1, 2029	$1,140,000	S&P AA	—
898735UN3	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	1.702%	Jul 1, 2029	$21,910,000	S&P AA	—
898711W93	TUCSON ARIZ GO BDS 2018-A 2020 (AZ)*	5.0%	Jul 1, 2029	$2,200,000	S&P AA	—
898711Y26	TUCSON ARIZ GO BDS 2018-B (2024) (AZ)*	5.0%	Jul 1, 2029	$2,925,000	—	—
898735UC7	TUCSON ARIZ CTFS PARTN TAXABLE REF COPS 2020 (AZ)*	2.111%	Jul 1, 2029	$500,000	S&P AA	—
898735TT2	TUCSON ARIZ CTFS PARTN REF COPS 2016 (AZ)*	3.0%	Jul 1, 2029	$2,735,000	S&P AA	July 1, 2026
898711Z33	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2030	$9,200,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2030
898735UD5	TUCSON ARIZ CTFS PARTN TAXABLE REF COPS 2020 (AZ)*	2.161%	Jul 1, 2030	$505,000	S&P AA	—
898735UP8	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	1.852%	Jul 1, 2030	$22,285,000	S&P AA	—
898711X27	TUCSON ARIZ GO BDS 2018-A 2020 (AZ)*	4.0%	Jul 1, 2030	$2,310,000	S&P AA	July 1, 2029
898735PQ2	TUCSON ARIZ CTFS PARTN CTFS PARTN 2010-A (AZ)*	6.75%	Jul 1, 2030	$21,140,000	Moody’s A1S&P AAFitch A+Kroll AA+	—
898711Y34	TUCSON ARIZ GO BDS 2018-B (2024) (AZ)*	5.0%	Jul 1, 2030	$3,050,000	—	—
898735QL2	TUCSON ARIZ CTFS PARTN COPS 2011 (AZ)*	5.0%	Jul 1, 2031	$1,355,000	—	—
898735UQ6	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	1.932%	Jul 1, 2031	$22,695,000	S&P AA	—
898711X35	TUCSON ARIZ GO BDS 2018-A 2020 (AZ)*	4.0%	Jul 1, 2031	$2,405,000	S&P AA	July 1, 2029
898735UE3	TUCSON ARIZ CTFS PARTN TAXABLE REF COPS 2020 (AZ)*	2.311%	Jul 1, 2031	$520,000	S&P AA	—
898735QU2	TUCSON ARIZ CTFS PARTN COPS 2011 (AZ)*	6.52%	Jul 1, 2031	$2,000,000	—	—
898711Z41	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2031	$9,150,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2031
898711Y42	TUCSON ARIZ GO BDS 2018-B (2024) (AZ)*	5.0%	Jul 1, 2031	$3,225,000	—	—
898711Z58	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2032	$9,600,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2032
898711Y59	TUCSON ARIZ GO BDS 2018-B (2024) (AZ)*	5.0%	Jul 1, 2032	$3,375,000	—	—
898735UR4	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	2.032%	Jul 1, 2032	$23,135,000	S&P AA	—
898711X43	TUCSON ARIZ GO BDS 2018-A 2020 (AZ)*	4.0%	Jul 1, 2032	$2,500,000	S&P AA	July 1, 2029
898711X50	TUCSON ARIZ GO BDS 2018-A 2020 (AZ)*	4.0%	Jul 1, 2033	$2,600,000	S&P AA	July 1, 2029
898711Y67	TUCSON ARIZ GO BDS 2018-B (2024) (AZ)*	5.0%	Jul 1, 2033	$3,550,000	—	—
898735US2	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	2.132%	Jul 1, 2033	$23,605,000	S&P AA	—
898711Z66	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2033	$10,075,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2033
898711Z74	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2034	$10,575,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2034
898735SG1	TUCSON ARIZ CTFS PARTN COPS 2014 (AZ)*	4.831%	Jul 1, 2034	$6,570,000	S&P AA	—
898735UT0	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	2.232%	Jul 1, 2034	$24,105,000	S&P AA	—
898711Y75	TUCSON ARIZ GO BDS 2018-B (2024) (AZ)*	5.0%	Jul 1, 2034	$3,725,000	—	—
898735UU7	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	2.282%	Jul 1, 2035	$24,645,000	S&P AA	—
898711Z82	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2035	$11,100,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2035
898735UV5	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	2.312%	Jul 1, 2036	$25,210,000	S&P AA	—
898711Z90	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2036	$11,650,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2036
8987112A3	TUCSON ARIZ GEN OBLIG BDS 2018C 2026 (AZ)*	5.0%	Jul 1, 2037	$12,250,000	Moody’s Aa2S&P AAFitch AAA	July 1, 2037
898735UW3	TUCSON ARIZ CTFS PARTN TAXABLE COPS 2021A (AZ)*	2.856%	Jul 1, 2047	$327,885,000	S&P AA	—

Market activity

EMMA · secondary trades · latest Sep 11, 2026

Each dot is a reported secondary trade — yield by trade date, sized by par, colored by trade side. Hover for detail.

Trade dateSecurityPriceYieldSizeSide

Sep 11 898735UL7 97.00 5.20% 5,000 Inter-Dealer Trade

Sep 11 898735UL7 97.10 5.06% 5,000 Customer Bought

Sep 11 898735UL7 96.39 6.01% 5,000 Customer Sold

Sep 11 898711Y26 104.47 3.31% 30,000 Customer Sold

Sep 10 898735PQ2 103.14 5.82% 10,000 Inter-Dealer Trade

Sep 10 898735PQ2 103.39 5.74% 10,000 Inter-Dealer Trade

Trade prints reported to the MSRB — a live market signal a manual issuer page cannot show.

20 callable securities carry a stated call price — refunding candidates as rates move.

Recent rating actions

Moody's · S&P · Fitch · KBRA

S&P Tucson, AZ Series 2026 Water System Revenue Refunding Bonds Assigned 'AA' Rating View Analyst Contact Information • Table of Conten…

Jun 26, 2026

Initial AA Outlook Stable

View the filing on EMMA ↗

Moody's Moody’s has upgraded their issuer rating to Aa2 from Aa3 to the City of Tucson, Arizona (the “City”).

Jun 25, 2026

Upgrade Aa3 → Aa2

View the filing on EMMA ↗

S&P Tucson, AZ Series 2018-C GO Bonds Assigned 'AA' Rating; Outlook Is Stable View Analyst Contact Information • Table of Contents + S&…

Jun 25, 2026

Initial AA Outlook Stable

View the filing on EMMA ↗

S&P Tucson, AZ's Series 2025 Water System Revenue Refunding Bonds Assigned 'AA' Rating; Outlook Is Stable View Analyst Contact Informat…

Jul 21, 2025

Initial AA Outlook Stable

View the filing on EMMA ↗

Moody's Rating Action: Moody's Ratings assigns Aa2 to Tucson, AZ's 2025 water revenue refunding bonds; outlook stable 17 Jul 2025 New York,…

Jul 17, 2025

Initial Aa2 Outlook Stable

View the filing on EMMA ↗

Moody's Moody’s assigned an issuer rating of “Aa3” to the City of Tucson, Arizona (the “City”).

Nov 3, 2022

Initial Aa3

View the filing on EMMA ↗

Moody's (AGM) and Assured Guaranty UK Limited (AGUK) to A1 from A2 and the IFS rating of Assured Guaranty Corp.

Mar 18, 2022

Downgrade A2 → A1 Outlook Stable

View the filing on EMMA ↗

Rating actions as disclosed by the issuer to the MSRB’s EMMA system under SEC Rule 15c2-12; the ratings are the opinions of the respective rating agencies (Moody's, S&P Global Ratings, Fitch Ratings, KBRA). Dates are the rating-action dates stated in each notice.

Tucson Arizona Certificates Participation

Credit ratings

Maturity profile

Recent activity

Debt overview

Debt service

Outstanding securities

Market activity

Recent rating actions

Document library

Disclosure record

Standing

Credentials on record

Dated obligations

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