Standard&Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Nashville and Davidson County Metropolitan Government, Tenn.'s series 2005A GO bonds and series 2005B GO refunding bonds. The rating reflects the county's: Continued economic diversification and expansion; Above-average wealth and income levels; Relatively low property tax rates; and Moderate overall debt levels, coupled with a manageable capital improvement program. The recent trend of general fund drawdowns, which has reduced reserves to just adequate levels, offsets these strengths. The metropolitan government's full faith and credit pledge secures the bonds. State government and higher education anchor Nashville, Tenn.'s, the state capital, diverse regional economy. The health care and business services, wholesale and retail sales, government, automotive manufacturing, and higher
