Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Polk County, Iowa's series 2014 general obligation (GO) capital loan notes. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating on the county's existing debt. The outlook is stable. A pledge of the county's full faith and credit and an agreement to levy ad valorem property taxes without limitation as to rate or amount secure the debt. The county intends to use the proceeds of the bonds to current refund outstanding portions of series 2004B and 2004C capital loan notes for interest cost savings. The rating reflects our assessment of the following factors for the county: Strong economy that is broad and diverse, given its status
