Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Nashville&Davidson County Metropolitan Government (Metro), Tenn.'s series 2012 general obligation (GO) refunding bonds. At the same time, Standard&Poor's affirmed its 'AA' long-term and underlying rating (SPUR) on Metro's GO debt outstanding. Finally, Standard&Poor's affirmed its 'AA-' SPUR on Metro's series 2002 A distribution energy system revenue bonds. The outlook on all ratings is stable. Factors that we believe support the 'AA' ratings include Metro's: Deep and diverse economic and employment base; Role as a regional economic center, which is evidenced by strong per capita retail sales; Moderate overall debt levels, coupled with reasonable capacity to fund projects identified in its capital improvement program
