Standard&Poor's Ratings Services revised its outlook on Orange County, N.C. to positive from stable, reflecting our view of the projected continued improvement of the county's financial position and increased funding of its long-term liabilities. Standard&Poor's also assigned its 'AA' rating to the county's series 2010 limited obligation bonds and affirmed its 'AA' rating on the county's appropriation debt outstanding and 'AA+' rating on the county's general obligation (GO) debt outstanding. The ratings reflect our view of the county's: Stable, diverse tax base, anchored in education and health care services and with extremely strong market value per capita; Strong financial position, despite a decline in fiscal 2009; and Low overall debt burden, with manageable future needs. The
