Summary: Wake County, North Carolina; Appropriations; General Obligation Dec 11

Standard & Poors, December 2011

Abstract
Standard & Poor's Ratings Services affirmed its 'AAA' rating, with a stable outlook, on Wake County, N.C.'s general obligation (GO) debt and its 'AA+' rating, with a stable outlook, on the county's limited-tax GO debt. The ratings reflect our opinion of the county's: Strong regional economic base, which includes the state capital of Raleigh, and its access to the renowned Research Triangle Park; Consistent growth in a diverse property tax base; Strong wealth and income, coupled with unemployment that has historically trended below state and national rates; Stable operations, which are currently facing near-term pressure, aided by, what we consider, historically strong reserves and conservative and well-established fiscal policies; and Manageable debt and capital improvement plan (CIP). The county's full-faith-and-credit...

Companies mentioned in this report are:
- Wake Cnty

Action: Affirmed
Action: Outlook: Stable

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.

- Wake Cnty

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