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

S&P Global Ratings assigned its 'AA-' long-term rating to the Douglasville Convention and Conference Center Authority, Ga.'s series 2017A and B revenue refunding bonds, issued on behalf of Douglasville. We also affirmed our 'AA-' rating on Douglasville's outstanding general obligation (GO) debt and GO equivalent debt issued on its behalf by the authority. The outlook is stable. The series 2017A and B revenue refunding bonds are limited obligations payable solely from amounts paid to the authority pursuant to an intergovernmental contract between the authority and the city. Under the contract, Douglasville's obligations are absolute and unconditional, and it has agreed to levy an unlimited ad valorem tax on all property subject to taxation for repayment. Therefore, the long-term rating on

...S&P Global Ratings assigned its '##-' long-term rating to the Douglasville Convention and Conference Center Authority, Ga.'s series 2017A and B revenue refunding bonds, issued on behalf of Douglasville. We also affirmed our '##-' rating on Douglasville's outstanding general obligation (GO) debt and GO equivalent debt issued on its behalf by the authority. The outlook is stable. The series 2017A and B revenue refunding bonds are limited obligations payable solely from amounts paid to the authority pursuant to an intergovernmental contract between the authority and the city. Under the contract, Douglasville's obligations are absolute and unconditional, and it has agreed to levy an unlimited ad valorem tax on all property subject to taxation for repayment. Therefore, the long-term rating on the issue is based on the GO pledge of the city. The proceeds of the series 2017 bonds will be used to advance refund the outstanding callable principal amounts of the authority's series 2011 revenue bonds...

Summary