The 'AA+' rating on Polk County, Iowa's GO bonds and GO refunding bonds reflects the county's: Participation in the stable and diverse Des Moines, Iowa MSA economy; Consistently strong financial performance; and Moderate overall net debt levels. The county's full faith and credit pledge secures the GO bonds. The county's moral obligation pledge secures Polk County Health Services' ('A+') bonds outstanding. Polk County forms the base of the Des Moines MSA, which is a stable and diversified regional economic center in central Iowa. The county has experienced modest population growth and reached 375,000 residents in 2000, a 14.5% increase over the past decade. Polk County's unemployment rate has been very favorable and stable for more than 20 years. In 2002,
