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Bledsoe County, TN's GO Bond Rating, SPUR Lowered To 'A-' On Deteriorating General Fund Balances May 11
Standard & Poors, May 2011
Abstract
DALLAS (Standard & Poor's) May 18, 2011-- Standard & Poor's Ratings Services lowered its long-term and underlying rating (SPUR) to 'A-' from 'A' on Bledsoe County, Tenn.'s general obligation (GO) debt. At the same time, Standard & Poor's withdrew its rating and outlook on the county's series 2010 GO refunding bonds. The rating was withdrawn because the bonds did not sell. Finally, Standard & Poor's assigned its 'A-' long-term rating to the county's series 2011 GO refunding bonds. The outlook on all bonds is stable. 'The lowered rating reflects our view of the county's continued deterioration of unreserved general fund balances related to its ongoing capital and operating expenditures,' said Standard & Poor's credit analyst Sarah Smaardyk. 'Further suppressing the...
Companies mentioned in this report are: Bledsoe Cnty
Action: Downgraded
Action: New Rating
Action: Withdrawn
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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