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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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