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Article: Fitch Rates Forsyth County, North Carolina's $42MM Rfdg GOs 'AAA'; Outlook Stable.
- Article from:
- Health & Beauty Close-Up
- Article date:
- August 23, 2009
CopyrightCOPYRIGHT 2009 Close-Up Media, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Fitch Ratings assigns an 'AAA' rating to Forsyth County, North Carolina (the county) estimated $42.3 million general obligation (GO) refunding bonds, series 2009.
The GOs are scheduled to price via negotiated sale on Sept. 2. The bonds will mature serially from March 1, 2012 through 2020 and will refund certain outstanding GO maturities. In addition, Fitch affirms the county's $421 million outstanding GO bonds at 'AAA' and $70 million certificates of participation at 'AA+.' The Rating Outlook is Stable.
The county's 'AAA' GO rating reflects its strong finances and management, increased economic diversification, moderately low debt, and healthy income ...