Standard&Poor's Ratings Services assigned its 'AA' standard long-term rating, and stable outlook, to Nashville and Davidson County Metropolitan Government, Tenn.'s series 2007A GO refunding bonds and affirmed its 'AA' standard long-term rating and Standard&Poor's underlying rating (SPUR), with a stable outlook, on the government's preexisting GO debt. The ratings reflect the metropolitan government's: Continued economic diversification and expansion; Above-average wealth and income levels; Improved financial general fund performance in fiscal 2006; and Moderate overall debt levels, coupled with a manageable capital improvement program (CIP). Offsetting these strengths are the metropolitan government's: Historical general fund drawdowns, which have reduced reserves to just-adequate levels; and Electorate-authorized property tax rate cap. The metropolitan government's full faith and credit pledge
