Standard & Poor's Ratings Services revised its outlook on Shelby County, Tenn.'s GO debt rating to stable from negative based on the county's significantly improved financial performance and position and management's adoption of a strategic financial plan that addresses the county's long-term projected structural budgetary deficit. Standard & Poor's also assigned its 'AA+' rating, and stable outlook, to the county's series 2005A GO refunding bonds. Simultaneously, Standard & Poor's affirmed its 'AA+' standard long-term rating and Standard & Poor's underlying rating (SPUR) on the county's GO debt outstanding. The ratings reflect the county's: Diversified and expanding regional economic base; Moderate overall debt levels; and Substantial capital program, coupled with a growing debt burden and relatively high carrying charges. The county's...
Companies mentioned in this report are:
- Shelby Cnty
Action: New Rating
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