Summary: Douglasville, Georgia; General Obligation; General Obligation Equivalent Security

S&P Global Ratings assigned its 'AA' long-term rating to Douglasville, Ga.'s $25 million series 2022 general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating (SPUR) on the city's general obligation (GO) debt outstanding and GO equivalent debt issued on its behalf by the Douglasville Convention&Conference Center Authority. The outlook is stable. The 2022 GO bonds and the GO debt outstanding are 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 are limited obligations payable solely from amounts paid to the authority pursuant to an intergovernmental contract between the authority and

...S&P Global Ratings assigned its '##' long-term rating to Douglasville, Ga.'s $25 million series 2022 general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its '##' long-term rating and underlying rating (SPUR) on the city's general obligation (GO) debt outstanding and GO equivalent debt issued on its behalf by the Douglasville Convention & Conference Center Authority. The outlook is stable. The 2022 GO bonds and the GO debt outstanding are 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 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 the city has agreed to levy an unlimited ad valorem tax on all property subject to taxation for repayment. Therefore, the long-term rating on the...

Summary