The rating on Nashville&Davidson County Metropolitan Government, Tenn.'s GO multipurpose refunding bonds is secured by the full faith and credit of the Nashville, Tenn. metropolitan government. The 'AA' rating reflects: A deep and diverse economic base, Above-average wealth and income levels, Low tax rates, Strong management, Adequate financial position, and Moderate debt with a rapid amortization schedule. The rating takes into account the city's use of its strong financial reserves in fiscals 1998 and 1999 to meet unexpected costs associated with the tornado that hit downtown Nashville in April 1998 and the associated decline in sales tax revenues due to the tornado and the closure of Opryland. The city expects to return its reserves to former levels beginning
