NC counties and cities report good credit, outlook not so good

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Submitted: Sat, 08/06/2011 - 1:27am
Updated: Sat, 08/06/2011 - 1:48am

RALEIGH, N.C. (AP) — A bond rating agency has told five of North
Carolina’s biggest counties and two of its larger cities that they
retained their good credit rating but their outlook is negative.

Moody’s Investors Service confirmed the AAA ratings of
Winston-Salem and Greensboro and Durham, Guilford, Mecklenburg, New
Hanover and Wake counties, but said their debt had a negative

The local governments were among five states and hundreds of
communities whose finances were indirectly linked to the U.S.
government. The governments were removed from a watch list for
possible downgrade with the threat of Washington’s default averted.

Moody’s says it will review the prospects of each borrower in
the weeks ahead and report a stable outlook for municipalities that
show credit strong enough to withstand a downgrade of U.S.
government debt.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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