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Summary: Greenville, North Carolina; Appropriations; General Obligation Nov 07

  • ID: 1818756
  • November 2007
  • Region: North Carolina
  • Standard & Poors

Standard & Poor's Ratings Services affirmed its 'AA' rating on Greenville, N.C.'s GO bonds and the 'AA-' rating on the city's certificates of participation (COPs). The ratings reflect the city's: Economic stability provided by East Carolina University (ECU) and Pitt County Memorial Hospital; Continued strong financial performance through economic cycles, characterized by high reserve levels; and Favorable debt burden, with modest future borrowing needs, as well as a manageable capital program. Low wealth and income levels mitigate the credit strengths. Greenville (population: 68,000) is the county seat of Pitt County and serves as a regional retail hub in the eastern part of North Carolina. The city's employment base is diversified among health care, education, government, and manufacturing. The city's economic...

Companies mentioned in this report are: Greenville
Action: Affirmed
Action: Outlook: Stable

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