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Article: Fitch Rates Johnson City, Tennessee's $47.5MM Ref GOs 'AA-'; Outlook Stable.
- Article from:
- Health & Beauty Close-Up
- Article date:
- June 22, 2009
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Fitch Ratings has assigned an 'AA-' rating to the city of Johnson City, Tennessee's approximately $47.5 million of general obligation (GO) refunding bonds, series 2009.
The bonds are scheduled to price the week of June 22, with proceeds refunding three series of the city's outstanding variable-rate bonds. In addition, Fitch affirms the 'AA-' rating on approximately $60.2 million of outstanding bonds issued through 2008 that are secured by a GO of the city. The Rating Outlook is Stable.
The 'AA-' rating reflects Johnson City's ample financial flexibility, moderately high debt levels, and relatively well-performing economy. Conservative budgeting practices ...