Standard&Poor's Ratings Services assigned its 'A-1+' short-term rating to Nashville&Davidson County Metropolitan Government (Metro), Tenn.'s series A-1 general obligation (GO) commercial paper (CP) bond anticipation notes and series A-2 GO CP bond anticipation notes. The notes are direct GO obligations of Metro, secured by the government's unlimited ad valorem taxing power. The rating is based on our view of the city's strong general creditworthiness (AA/Stable GO debt rating). The A-1 and A-2 note programs will replace the city's series 2007 GO CP program. We understand that Metro currently has about $150 million in series A notes outstanding. Liquidity support for the series A-1 notes will be provided through a standby note purchase agreement between Metro and
