Summary: Alpharetta, Georgia; Appropriations; General Obligation Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Alpharetta, Ga.'s general obligation (GO) bonds, series 2012. At the same time, Standard & Poor's affirmed its 'AAA' rating and on the city's GO bonds outstanding and its 'AAA' long-term rating on the Alpharetta Development Authority's revenue refunding bonds, series 2009. The ratings on both are stable. The GO rating reflects what we view as the city's: Diverse employment base, with access to the greater Atlanta metropolitan statistical area (MSA); Very strong median household effective buying income coupled with below-average unemployment compared with both state and national levels; Very diverse tax base and a historical trend of significant tax base growth, with a small decline in the...

Companies mentioned in this report are: Alpharetta,Alpharetta Dev Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

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.

Alpharetta,Alpharetta Dev Auth

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