S&P Global Ratings assigned its 'AA' rating to the City of Pigeon Forge, Tenn.'s approximately $38.5 million series 2025A general obligation (GO) bonds. S&P Global Ratings also affirmed its 'AA' rating on the city's existing GO debt. The outlook is stable. The rating reflects the application of our methodology for rating U.S. governments, published Sept. 9, 2024. The city's unlimited-faith-and-credit pledge secures series 2025A bonds and existing GO debt. Bond proceeds are intended to finance construction of a new fire station, fire accessory building, police station, and police accessory/firing range building. Pigeon Forge is about 45 minutes southeast of Knoxville, with a tourism-based economy because it's the home of Dollywood and due to its access to the Great Smoky Mountains.
