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Summary: Wake Cnty, NC; Tax Secured, General Obligation Oct 04

  • ID: 2043187
  • October 2004
  • Standard & Poors
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The 'AAA' rating on Wake County, N.C.'s GO refunding bonds series 2004 and outstanding GO bonds reflects: The county's strong regional economic base, which includes the state capital and is adjacent to the renowned Research Triangle Park; A diverse and growing tax base coupled with a property tax rate that is lower than comparable municipalities; High wealth levels; Strong financial performance with consistently healthy general fund reserves; and A low debt burden despite a significant capital improvement plan (CIP). The bonds are secured by the county's full faith and credit GO pledge. Bond proceeds will be used to refund series 1996, 1997, and 2000 bonds for net present value savings. Wake County is in north-central North Carolina and is the...

Companies mentioned in this report are:
- Wake Cnty

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Wake Cnty

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