...S&P Global Ratings assigned its 'A-1+' short-term rating to Nashville & Davidson County Metropolitan Government (Metro), Tenn.'s series 2017 B-1 and 2017 B-2 general obligation (GO) commercial paper (CP) notes. At the same time, S&P Global Ratings affirmed its 'A-1+' short-term rating on Metro's series A-1 and A-2 GO CP notes. The rating is based on the general creditworthiness of Metro (GO debt rating: ##/Stable). The CP notes constitute bond anticipation notes and are direct GO obligations of Metro, secured by the government's unlimited ad valorem taxing power. The CP program will be used to provide interim financing of various capital projects in the metropolitan government and to refinance CP outstanding. Series B-1 CP may be issued in an aggregate principal amount outstanding not to exceed $200 million and the series B-2 CP may be issued in an aggregate amount not to exceed $175 million. Metro is not able to issue notes that mature beyond March 1, 2023. The series B-1 and B-2 traditional...
