Summary: Elizabethton, Tennessee; General Obligation

Standard&Poor's Ratings Services assigned its 'A+' long-term rating to Elizabethton, Tenn.'s series 2015A and 2015B general obligation (GO) refunding bonds. At the same time, Standard&Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on the city's existing GO debt. The outlook is stable. The bonds are secured by the city's full faith and credit. In addition, the city has secured its 2013 general obligation school refunding and improvement bonds, with a portion of the local option sales and use tax designated for schools, subject to any prior pledges. We view the unlimited ad valorem tax pledge as the strongest pledge and rate the bonds based on the GO criteria. Officials plan to use bond proceeds

...Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Elizabethton, Tenn.'s series 2015A and 2015B general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on the city's existing GO debt. The outlook is stable. The bonds are secured by the city's full faith and credit. In addition, the city has secured its 2013 general obligation school refunding and improvement bonds, with a portion of the local option sales and use tax designated for schools, subject to any prior pledges. We view the unlimited ad valorem tax pledge as the strongest pledge and rate the bonds based on the GO criteria. Officials plan to use bond proceeds to refund certain series of bonds for savings. The ratings reflect our assessment of the following factors for the city, specifically its:...

Summary