Standard & Poor's Ratings Services said it has raised its underlying rating on Gilmer County, Ga.'s general obligation bonds and Gilmer County Building Authority's GO equivalent lease revenue bonds to AA-minus from A-plus.
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The outlook is stable.
"The upgrade reflects improved economic conditions and liquidity," said Standard & Poor's credit analyst Timothy Little.
Gilmer's full faith and credit pledge secures the bonds. The authority's bonds are secured and payable by the county through an intergovernmental contract and lease agreement. The payments, pursuant to the contract and lease, constitute a GO of Gilmour County, for which it pledges its full faith, credit, and taxing power.
