Standard&Poor's Ratings Services assigned its 'AA/A-1+' rating, and stable outlook, to Nashville and Davidson County Metropolitan Government, Tenn.'s series 2006A GO refunding bonds. The standard long-term 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. A recent trend of general fund drawdowns, which has reduced reserves to just-adequate levels, offsets these strengths. The 'A-1+' short-term rating is based on an SBPA provided by Depfa Bank PLC. The SBPA provides for principal of, and 35 days' interest on, unremarketed tendered bonds. The initial SBPA, which is scheduled to end on May 15, 2013, provides coverage only for
