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Published on 3/20/2008 in the Prospect News Municipals Daily.

Moody's rates Tenn. building bonds A1

Moody's Investors Service said it assigned an A1 rating to the Public Building Authority of Sevier County, Tenn.'s $56 million of local government public improvement bonds, adjustable-rate series III-A-6, III-C-1, III-C-2, III-C-3, IV-B-6, IV-B-7, IV-B-8, IV-F-1, IV-G-2 and IV-G-3.

Moody's said it assigned the same rating to the Public Building Authority of Blount County, Tenn.'s $66 million of existing local government public improvement bonds, series D-6 and series D-9.

All of the bonds are secured by loan agreement from Johnson City, Tenn.

The A1 rating also applies to the city's approximately $180 million of outstanding general obligation debt.


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