Summary: Knox County, Tennessee; General Obligation; General Obligation Equivalent Security Jul 10

Standard & Poors, July 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to Knox County, Tenn.'s series 2010B general obligation (GO) refunding bonds. In addition, Standard & Poor's affirmed its 'AA+' long-term and underlying rating (SPUR) on the county's outstanding parity general obligation (GO) debt. The outlook is stable. In our view, the ratings reflect the county's: Economically strong and stable service area, which serves as an employment anchor for an eight-county area in eastern Tennessee; Steady property tax base growth; Consistently strong financial performance and position; and Increasing, yet moderate, debt burden, coupled with a manageable capital improvement plan (CIP). Knox County's full faith and credit pledge secures the bonds. Officials plan to use bond proceeds to convert variable rate debt...

Companies mentioned in this report are: Knox 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.

Knox Cnty

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