Summary: Douglasville Convention&Conference Center Authority, Georgia Douglasville; General Obligation; General Obligation Equivalent Security

S&P Global Ratings raised its long-term and underlying ratings to 'AA' from 'AA-' on Douglasville, Ga.'s outstanding general obligation (GO) debt and its GO equivalent debt issued on its behalf by the Douglasville Convention&Conference Center Authority. The outlook is stable. The upgrade reflects growth in the local tax base, which resulted in per capita market values growing nearly $28,000 since 2018 (to more than $115,000). In addition, the city has consistently added to reserves, with available reserves doubling to $17.4 million from $8.7 million between fiscal years 2016 and 2020, or increasing to 54% of expenditures from 34% over the same time. The outstanding GO debt is secured by ad valorem taxes that may be levied, without limit

...S&P Global Ratings raised its long-term and underlying ratings to '##' from '##-' on Douglasville, Ga.'s outstanding general obligation (GO) debt and its GO equivalent debt issued on its behalf by the Douglasville Convention & Conference Center Authority. The outlook is stable. The upgrade reflects growth in the local tax base, which resulted in per capita market values growing nearly $28,000 since 2018 (to more than $115,000). In addition, the city has consistently added to reserves, with available reserves doubling to $17.4 million from $8.7 million between fiscal years 2016 and 2020, or increasing to 54% of expenditures from 34% over the same time. The outstanding GO debt is secured by ad valorem taxes that may be levied, without limit as to rate or amount, on all taxable property within its jurisdiction. The GO equivalent debt is limited obligations payable solely from amounts paid to the authority pursuant to an intergovernmental contract between the authority and the city. Under the...

Summary