Summary: Pigeon Forge, Tennessee; General Obligation

S&P Global Ratings assigned its 'AA' long-term rating to Pigeon Forge, Tenn.'s series 2018 general obligation (GO) bonds with a par amount of $33 million. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating (SPUR) on the city's existing GO and GO-equivalent bonds, which were issued by the Pigeon Forge Industrial Development Board. The outlook on all ratings is stable. The city's unlimited ad valorem taxes levied on all property within the city's corporate limits secure the 2018 bonds. We understand that majority of the bond proceeds will be used to purchase land and to construct a parking lot and a transportation center. The existing GO bonds are secured by the city's unlimited ad

...S&P Global Ratings assigned its '##' long-term rating to Pigeon Forge, Tenn.'s series 2018 general obligation (GO) bonds with a par amount of $33 million. At the same time, S&P Global Ratings affirmed its '##' long-term rating and underlying rating (SPUR) on the city's existing GO and GO-equivalent bonds, which were issued by the Pigeon Forge Industrial Development Board. The outlook on all ratings is stable. The city's unlimited ad valorem taxes levied on all property within the city's corporate limits secure the 2018 bonds. We understand that majority of the bond proceeds will be used to purchase land and to construct a parking lot and a transportation center. The existing GO bonds are secured by the city's unlimited ad valorem taxes levied on all property within the city's corporate limits. The series 2011 bonds are issued by the Pigeon Forge Industrial Development Board on behalf of the city. Series 2011 are secured by a loan agreement between the authority and the board. Under the...

Summary