Standard&Poor's Ratings Services assigned its 'AA+' rating to Orange County, N.C.'s series 2010 general obligation (GO) refunding bonds and affirmed its 'AA+' long-term rating on the county's 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 GO bonds are secured by unlimited ad valorem taxes on property within the county. The county will use these bonds to refund debt outstanding. Orange County is located in the north-central part of the state and includes the municipalities of Chapel Hill
