Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to Shelby County, Tenn.'s series $226 million 2012A general obligation (GO) refunding bonds and $15 million series 2012B special GO bonds. In addition, we affirmed our 'AA+' long-term rating and underlying rating on the county's parity GO debt. The outlook on all ratings is stable. The ratings reflect our view of the county's: Location within the Memphis metropolitan statistical area (MSA), which boosts employment opportunities as well as wealth and income indicators; Diverse economic base that is demonstrating growth along several key employment sectors; Strong financial management, including institutionalized policies to support consistent financial results and a demonstrated willingness to monitor the budget; and Moderate overall debt burden. Partly offsetting...
Companies mentioned in this report are:
- Shelby Cnty
Action: New Rating
Action: Outlook: Stable
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