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Moody's Reaffirms Brentwood Aaa Bond Rating

Post Date:11/30/2017 4:18 PM

Summary Rating Rationale

Moody's Investors Service has assigned a Aaa rating to the City of Brentwood's $5.5 million General Obligation Refunding Bonds, Series 2017A. Moody's maintains the Aaa rating on the city's outstanding general obligation bonds. The outlook is stable.

The Aaa rating reflects the city's historically well-managed operations with ample reserves, large and affluent tax base, and manageable debt burden.

Credit Strengths

» Strong, affluent, and diverse tax base

» Ample reserves

»  Prudent management

Credit Challenges

Modest taxpayer concentration

Rating Outlook

The stable outlook reflects the expectation that the city will continue to maintain its solid financial position given strong fiscal management with prudent budgetary practices and strong local economy.

Factors that Could Lead to a Downgrade

» Trend of structural imbalance reducing financial flexibility no longer in line with Aaa

» Weakened local economy resulting in tax base contraction pressuring property tax collections

» Decreases in wealth levels

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