Nashville & Davidson Cnty Metro Govt, TN's GO Bond Outlook Revised To Neg On Stressed Finances Feb 08

Standard & Poors, February 2008

Abstract
DALLAS (Standard & Poor's) Feb. 15, 2008-- Standard & Poor's Ratings Services revised its outlook to negative from stable on the Nashville and Davidson County Metropolitan Government (Metro), Tenn.'s GO bonds. In addition, Standard & Poor's assigned its 'AA' rating to the Metro's series 2008 GO bonds. Simultaneously, Standard & Poor's affirmed its 'AA' rating and underlying rating (SPUR) on the government's outstanding GO debt. "The outlook revision reflects the continued challenges to Metro's fiscal position, which is attributed mainly to providing open-ended financial support to Metro General Hospital," said Standard & Poor's credit analyst Theodore Chapman. "This support has constrained the budget in other areas of general government, greatly diminished the unreserved general fund balance, and will continue to...

Companies mentioned in this report are:
- Nashville & Davidson Cnty Metro Govt

Action: Affirmed
Action: New Rating
Action: Outlook: Negative

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Nashville & Davidson Cnty Metro Govt

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