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www.starnewsga.com StarNews AUGUST 7, 2011 Page 11
RATINGS from front page
are going the other way. The credit ratings
of both the State of Georgia and Carroll
County are rising.
In March 2011, Governor Nathan Deal
announced that the three major credit
reporting agencies, Moody’s, Standard &
Poor’s, and Fitch, had raised the state’s rat
ing to AAA. Carroll County Board of
Commissioners Chairman Bill Chappell
reported in July 2011 that the county’s rat
ing was recently raised to AA, the next to
top credit rating.
When Chappell’s predecessor, Herman
Ayers, became interim chairman as a result
of the resignation of former chairman
Robert Barr, summer 2007, the county’s
rating was a lower A1 with a negative out
look. (Chappell was elected Oct. 2007 to
finish Barr’s unfulfilled term; was re
elected 2008.) The negative outlook meant
that the rating might be downgraded in 12
to 18 months.
There is no negative outlook attached to
today’s AA rating. An AA rating means
obligations are high quality with a very
low credit risk.
In May 2011, Moody’s assigned the
Carroll County School District an A1 rat
ing on its general obligation bonds. A1 is
at the top of the third level of ratings. It is
an upper medium grade risk level. General
obligation bonds obligate the county’s tax
payers to pay them off. In June 2011,
Moody’s assigned the Carrollton
Independent School System’s general obli
gation bonds a lower rating than the one
assigned to the Carroll County School
District the previous month.
Not many governments have an AAA
rating. Only eight states, including
Georgia, have an AAA rating, which
means they can borrow at the lowest possi
ble interest rate. Georgia’s top of the scale
rating is attributed to its conservative fiscal
management, moderate debt burden, and
well funded pensions. Currently, the enor
mous size and lack of adequate funding of
pensions in several states threatens them
with financial catastrophe.
RATINGS CHARTS
Moody’s
Standard & Poor’s
Fitch
Aaa
AAA
AAA
Aa1
AA+
AA+
Aa2
AA
AA
Aa3
AA-
AA-
A1
AA-
A+
A2
A+
A
A3
A
A-
Baal
A-
BBB+
Baa2
BBB+
BBB
Baa3
BBB
BBB-
Ba1
BBB-
BB+
Ba2
BB+
BB
Ba3
BB
BB-
B1
BB
B+
B2
BB-
B
B3
B+
B-
Caa
B
CCC
Ca
B-
CC
C
CCC
C
e,p
CC
D
WR
C
Expected
NR
D
RD
506 MAPLE STREET
CARROLLTON, GA
770-832-0340
If you are a crafter or a seamstress you will want to check
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* FABRIC
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Chamber Member
Mainstreet Member
Find us on
Facebook
40060492
770 834 9252
Fine Italian
Dining
Family Friendly
Pricing
VIVA
ITALIA!
Thank you!
I would like to extend my thanks to Carroll
County and surrounding areas for your
support, trust, and indulgence during my 25
years practicing medicine in Carrollton.
Starting with Uncle Frank Scales and
down through myself, three generations of
physicians of our family have been able to
enjoy the relationships made through caring
for this community.
It is overwhelming to consider the number
of you who have allowed us to become your
caregiver. Also overwhelming is to consider
the number of you who have stepped in to
care for our family over the years.
Thank you so much, Carroll County.
George T. Astin, M.D.
Orange Beach, Alabama
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