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Summary: Durham County, North Carolina; Appropriations; General Obligation May 11
Standard & Poors, May 2011
Standard & Poor's Ratings Services' has assigned its 'AAA' long-term rating to Durham County, N.C.'s series 2011 general obligation (GO) refunding bonds, reflecting our opinion of the county's: Strong and diverse economic base, bolstered by Research Triangle Park and proximity to Wake County (AAA/Stable) and the City of Raleigh (AAA/Stable); Substantial property tax base that, albeit at a more modest rate than in recent history, continues to expand and diversify; Maintenance of a strong reserve position throughout the economic downtown; and Moderate overall debt burden. The 'AA+' rating on the county's previously rated appropriation-backed debt has been affirmed. The bonds are a GO of the county, secured by its full faith and credit pledge. Officials plan to use the series...
Companies mentioned in this report are: Durham Cnty
Action: New Rating
Action: Outlook: Stable
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