- Language: English
- Published: February 2012
Shelby County, Tennessee; Tax Secured, General Obligation Mar 04
- Published: March 2004
- Region: Tennessee
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA+' rating, and negative outlook, to Shelby County, Tenn.'s series 2004A GO public improvement and school bonds. The rating reflects the county's: Diversified and expanding economic base; Moderate overall debt levels; and Substantial capital program, coupled with a growing debt burden and relatively high carrying charges. The negative outlook reflects the recent deterioration in the county's financial performance and a significant reduction in general fund reserves in fiscal 2003. The county's full faith and credit pledge secures the bonds. The county will use bond proceeds of this issuance to refund a portion of its series 2001A and series 2003A capital-outlay extendible municipal CP notes outstanding. Shelby County, with a population of 897,472, is...
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
SHOW LESS READ MORE >