The 'AA' rating on Nashville and Davidson County Metropolitan Government, Tenn.'s GO energy production facility refunding bonds reflects: Continued economic diversification and expansion; Above-average wealth and income levels; Relatively low tax rates; Sound financial performance and an improved financial position; and Moderate overall debt levels, coupled with a manageable capital improvement program. Nashville and Davidson County Metropolitan Government's full faith and credit pledge secures the bonds. Bond proceeds will refund all energy production facility revenue bonds outstanding. Nashville, Tenn., the state capital, enjoys a diverse regional economy anchored by state government and higher education. Employment is diversified in health and business services, wholesale and retail sales, government, automotive manufacturing, and higher education. Vanderbilt University and Medical Center, along with 15
