...S&P Global Ratings assigned its '##' rating to the Metropolitan Government of Nashville & Davidson County (Metro), Tenn.'s series 2019, issued by the Metropolitan Government Sports Authority, and affirmed its '##' rating on Metro's general obligation (GO) and existing non-tax revenue debt. The outlook is stable. The series 2019 bonds are secured solely by a pledge of sales tax revenues and ticket tax revenues provided to the authority by Metro pursuant to an intergovernmental agreement; stadium lease payments made to the authority pursuant to the stadium lease between the authority and the team; and, in the event of a deficiency in the revenues described in the sales tax revenue pledge and the stadium lease payment pledge, a pledge of non-tax revenues provided to the authority by Metro pursuant to the intergovernmental agreement. Similarly, Metro's non-tax revenue debt outstanding is secured by certain pledged revenues that are specific to each issue and in the event those revenues are...
