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Summary: Kingsport, Tennessee; General Obligation Jan 13 Product Image

Summary: Kingsport, Tennessee; General Obligation Jan 13

  • Published: January 2013
  • Region: Tennessee
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Kingsport, Tenn.'s series 2013 general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the city's existing debt. The outlook on all ratings is stable. The ratings reflect our view of the city's: Deep employment base that, along with Bristol and Johnson City, serves as a regional anchor for northeastern Tennessee, southern Virginia, and even northwestern North Carolina; Historically very strong financial position; and Strong financial management practices, which, in our view, increases the likelihood that the city could better withstand adverse impacts from its reliance on a dominant local employer and taxpayer. In our opinion, the...

Companies mentioned in this report are:
- Kingsport

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Kingsport

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