Summary: Johnston County, North Carolina; General Obligation Apr 10

Standard & Poors, April 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating, and stable outlook, to Johnston County, N.C.'s series 2010A general obligation (GO) refunding bonds and affirmed its 'AA+' long-term rating and underlying rating (SPUR), with a stable outlook, on the county's existing GO debt. In our view, the rating reflects: A very strong regional economic base with increased access to the greater Raleigh, N.C. area provided by the recently completed U.S. 70 Clayton Bypass; The institution of programs aimed at attracting and retaining specific employers, facilitating local economic growth; The county's good income levels, evidenced by median household effective buying income that represents 106.8% and 95.9% of state and national levels, respectively; A diverse and growing property tax base with...

Companies mentioned in this report are: Johnston Cnty
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Johnston Cnty

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