Summary: Metropolitan Government of Nashville and Davidson County, Tennessee; Appropriations; General Obligation; Miscellaneous Tax

S&P Global Ratings revised the outlook to positive from stable affirmed its 'AA' long-term rating on Metropolitan Government of Nashville and Davidson County (Metro), Tenn.'s general obligation (GO) bonds outstanding and obligations supported by its nontax revenue. At the same, S&P assigned its 'AA' long-term rating to Nashville's series 2022A and 2022B GO improvement bonds. The outlook revision reflects our view of Nashville's improved reserve and liquidity balances, ability to enact budgetary changes to achieve operating balance, and ongoing economic and tax base growth. The positive outlook reflects a one-in-three likelihood we could raise the rating over the next two years. Metro's full faith and credit, including its ability to levy ad valorem property taxes without limitation as to rate

...S&P Global Ratings revised the outlook to positive from stable affirmed its '##' long-term rating on Metropolitan Government of Nashville and Davidson County (Metro), Tenn.'s general obligation (GO) bonds outstanding and obligations supported by its nontax revenue. At the same, S&P assigned its '##' long-term rating to Nashville's series 2022A and 2022B GO improvement bonds. The outlook revision reflects our view of Nashville's improved reserve and liquidity balances, ability to enact budgetary changes to achieve operating balance, and ongoing economic and tax base growth. The positive outlook reflects a one-in-three likelihood we could raise the rating over the next two years. Metro's full faith and credit, including its ability to levy ad valorem property taxes without limitation as to rate or amount, secures the series 2022A and 2022B GO bonds. Bond proceeds will refinance $350 million in GO commercial paper (CP) draws and provide approximately $300 million in proceeds for various projects...

Summary