The 'AA+' rating on Shelby County, Tenn.'s GO refunding bonds is based on the county's full faith and credit pledge. The rating also reflects the county's: Diversified and expanding economic base; Strong financial performance and management practices; Moderate overall debt levels; and Significant capital program, coupled with a growing debt burden and high carrying charges. Shelby County, with a population of 897,000, is the center of the diverse Memphis, Tenn. regional economy. The county's location in the southwestern corner of the state, bordering Arkansas and Mississippi, contributes to its importance as a regional economic center. Employment growth has slowed but is projected to level off and remain steady at about 1.2% a year through 2003. Federal Express Corp.'s world headquarters...
Companies mentioned in this report are:
- Shelby Cnty
Action: New Rating
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