MOODY'S LOWERS RATING ON ALAMANCE COUNTY, NORTH CAROLINA GENERAL OBLIGATION BONDS FROM 'A1' TO 'Aa'
MOODY'S LOWERS RATING ON ALAMANCE COUNTY, NORTH CAROLINA GENERAL OBLIGATION BONDS FROM 'A1' TO 'Aa' NEW YORK, Oct. 21 /PRNewswire/ -- Effective yesterday, Moody's Investors Service revised the rating of Alamance County, N.C.'s general obligation bonds from A1 to Aa. The new rating, which signifies bonds that are high quality, reflects several favorable trends in the county: resiliency of the economy throughout the recession, strong financial operations and a favorable debt position. The county's location between Research Triangle Park and the Piedmont Triad fosters low unemployment rates and growing economic diversification. Consequently, the recession has had minimal effect on the county's economic base. A revaluation of the taxbase is underway and preliminary results show strong growth. The county's favorable financial position and effective management has enabled funding of capital improvements on a pay-as-you-go basis thereby keeping debt levels low. General obligation bonds outstanding: $13,300,000. -0- 10/21/92 /CONTACT: Patricia McGuigan, assistant vice president of Moody's Public Finance Department, 212-553-1076/ CO: Alamance County, North Carolina ST: North Carolina IN: SU: RTG
PS-LR -- NY070 -- 2899 10/21/92 12:36 EDT
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|Date:||Oct 21, 1992|
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