Coyotes Sale Possibly Coming to a Close as Glendale Issues Bond Sale

GLENDALE AZ - OCTOBER 16: Matthew Hulsizer CEO of PEAK6 Investments attends the NHL game between the Detroit Red Wings and the Phoenix Coyotes at Jobing.com Arena on October16 2010 in Glendale Arizona. (Photo by Christian Petersen/Getty Images)


[Note by Travis Hair, 02/09/11 9:39 PM MST:  H/t to Jonathan Court (@gollybass on twitter) for pointing me to this.]

At long last the sale of the Phoenix Coyotes might be coming to an end. According to Moody's, the financial research company that gives governments and companies credit rating and rates such bond sales, the City of Glendale has issued a bond to be sold this coming Tuesday. In fact it's structured as two separate issues, one of 107 million dollars rated at A1 as well as a 9 million dollar issue also at A1. Once those bonds are sold the city should be able to pay the amount required in their deal with Coyotes buyer Matthew Hulsizer. A1 bonds are investment grade bonds that are classified as those that have a low credit risk, but have some susceptibility to long term risks. 

Link to the Moody's report (requires login)

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