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Summary: Durham County, North Carolina; Appropriations; General Obligation Mar 08
Standard & Poors, March 2008
The 'AAA' rating on Durham County, N.C.'s series 2008A and 2008B general obligation (GO) public improvement bonds and GO school bonds, respectively, and outstanding GO bonds reflects: A strong and diverse economic base enhanced by the Research Triangle Park; A substantial property tax base that continues to expand and diversify; A consistently solid financial position as a result of strong fiscal management oversight backed by formal financial policies; and A manageable debt position with a rapid amortization schedule. The series 2008 and outstanding GO bonds are secured by the county's full faith and credit GO pledge. A large portion of the proceeds from the series 2008 bonds will be used to finance capital needs of the county's public schools. Other...
Companies mentioned in this report are: Durham Cnty
Action: New Rating
Action: Outlook: Stable
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