Summary: Wake County, North Carolina; Appropriations; General Obligation; Tender Option Certificates/Bonds Mar 11

Standard & Poors, March 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Wake County, N.C.'s series 2011 general obligation (GO) bonds and affirmed its 'AAA' rating, with a stable outlook, on the county's existing GO bonds. The rating reflects our view of the county's: Strong regional economic base, including the state capital of Raleigh, N.C., and its access to the renowned Research Triangle Park; Consistent growth in a diverse property tax base; Strong wealth and income indicators, coupled with unemployment that has historically trended below state and national rates; Stable financial operations, which are currently facing near-term pressures, aided by historically strong reserves and conservative and well-established fiscal policies; and Manageable debt burden and capital improvement plan (CIP). The...

Companies mentioned in this report are:
- Wake Cnty

Action: Affirmed
Action: New Rating
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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