Standard&Poor's Ratings Services revised its outlook on Nashville and Davidson County Metropolitan Government, Tenn.'s GO and appropriation-backed debt outstanding to stable based on the recent trend of general fund drawdowns, reducing general fund reserves to adequate levels. Standard&Poor's also assigned its 'AA' rating, and stable outlook, to the government's series 2003 GO bonds. The rating reflects the metropolitan government's: Continued economic diversification and expansion; Above-average wealth and income levels; Relatively low property tax rates; and Moderate overall debt levels, coupled with a manageable capital improvement program. Nashville, Tenn., the state capital, enjoys a diverse regional economy; state government and higher education anchor the economy. Employment is diversified in health and business services, wholesale and retail sales,
