Summary: Nashville&Davidson County Metropolitan Government Convention Center Authority, Tennessee Nashville&Davidson County Metropolitan Government; Miscellaneous Tax

S&P Global Ratings raised its rating on Metropolitan Government of Nashville&Davidson County (Metro), Tenn.'s series 2010A-1 and A-2 revenue bonds, issued by the Metro Convention Center Authority, to 'A+' from 'A' based on its application of its "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018). The outlook is stable. We applied the Priority-Lien Debt criteria to the debt factors in both the strength and stability of the pledged revenues as well as the general credit quality of the municipality where taxes are distributed and collected (the obligor's creditworthiness, or OC). The debt is secured by tourism tax revenues that include sales tax increments in the tourism development zone, a 3% hotel occupancy tax, a $2 per unit

...S&P Global Ratings raised its rating on Metropolitan Government of Nashville & Davidson County (Metro), Tenn.'s series 2010A-1 and A-2 revenue bonds, issued by the Metro Convention Center Authority, to 'A+' from 'A' based on its application of its "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018). The outlook is stable. We applied the Priority-Lien Debt criteria to the debt factors in both the strength and stability of the pledged revenues as well as the general credit quality of the municipality where taxes are distributed and collected (the obligor's creditworthiness, or OC). The debt is secured by tourism tax revenues that include sales tax increments in the tourism development zone, a 3% hotel occupancy tax, a $2 per unit hotel room occupancy tax, ground transportation tax, a car rental tax, and a short term rental tax. The 'A+' rating reflects our opinion that the pledged revenues have experienced solid growth providing for strong historical debt service coverage....

Summary