- Language: English
- 108 Pages
- Published: January 2012
- Region: China
Shelby County, Tennessee; Tax Secured, General Obligation; Tax Secured, Note Jul 04
- Published: July 2004
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Shelby County, Tenn.'s series 2004 TANs. The rating reflects the county's: Strong long-term general creditworthiness ('AA+' GO debt rating); Sound 1.37x projected cash coverage of the notes at maturity by combined general and debt service funds and a solid 1.60x projected cash coverage at maturity by combined general, debt service, and internally available funds; Projected $30.79 million general fund cash balance at fiscal year-end 2004, or a strong 9.6% of projected fiscal 2004 general fund expenditures; and Adopted fiscal 2005 budget, which reflects a $1.077 million general fund operating surplus. The 'AA+' GO debt rating reflects the county's: Diversified, expanding economic base; Moderate overall debt levels; and Substantial capital...
Companies mentioned in this report are: Shelby Cnty
Action: New Rating
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.
Research Type: Full Analysis
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