La Vergne, TN GO Bond Rating Raised To #AA# Due To Application Of Our Updated Criteria

Stocks and Financial Services Press Releases Thursday February 13, 2014 09:35
DALLAS--13 Feb--Standard & Poor's
DALLAS (Standard & Poor's) Feb. 12, 2014-- Standard & Poor's Ratings Services raised its long-term rating to 'AA' from 'AA-' on La Vergne, Tenn.'s general obligation (GO) bonds. The outlook is stable.

"The raised rating reflects the application of our local GO criteria released on Sept. 12, 2013," said Standard & Poor's credit analyst Jennifer Garza. "Further supporting the rating is our view of the city's very strong budgetary flexibility and strong overall budgetary flexibility," Ms. Garza added. La Vergne is immediately southeast of Nashville, Tenn., in Rutherford County. Heavy manufacturing and distribution industries are the primary drivers of the local economy. In addition,

La Vergne continues to experience retail growth with the addition of Saks Inc., to the retail base. Residents benefit from the access to deep and diverse Nashville-Davidson-Murfreesboro-Franklin metropolitan area.

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