Summary: Richland County, South Carolina; General Obligation Sep 09

Standard & Poors, September 2009

Abstract
Standard & Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) on Richland County, S.C.'s general obligation (GO) debt one notch to 'AA+' from 'AA' based on the county's historically strong financial position, which has continued to increase reserves, and the strengthening of its formal reserve policy. The outlook is stable. The stability of the area economy has also factored into the upgrade. Standard & Poor's also assigned its 'AA+' long-term rating, and stable outlook, to the county's series 2009A GO bonds. In our opinion, the ratings reflect the county's: Diverse area economy, anchored by Columbia, S.C., the state capital, that continues to benefit from ongoing economic development; Consistent growth in an already sizable property tax base with...

Companies mentioned in this report are:
- Richland Cnty

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Richland Cnty

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