Shelby County, Tennessee; Tax Secured, General Obligation Mar 04
- ID: 2053024
- 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
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Research Type: Full Analysis