S&P Global Ratings assigned its 'AA' long-term rating to the City of Pigeon Forge, Tenn.'s $113.280 million series 2021A and 2021B general obligation (GO) refunding bonds. At the same time, we affirmed our 'AA' long-term rating on the city's previously rated GO bonds. The outlook is stable. The city's full-faith-and-credit pledge, payable from the levy of an unlimited ad valorem tax on all taxable property within Pigeon Forge's corporate city limits, secures the bonds. Officials will use bond proceeds to refund existing obligations for economic savings. The refunding will shorten maturities and lower annual debt service. Pigeon Forge, with a 6,500 year-round population, is dependent on tourism-related revenue. The thriving tourism industry has had a very positive effect on the
