TITLE

Memphis Woes

AUTHOR(S)
DeSue, Tedra
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/2/2004, Vol. 350 Issue 32021, p35
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Standard & Poor's last week revised its outlook on Memphis and Shelhy County Sports Authority's revenue debt to negative from stable based on the significant deterioration Memphis has recently experienced in its financial performance and genera] fund position due in part, to poor budgetary controls. The action affects about $201 million of AA-minus rated debt. Analyst Wendy Wipperman said Memphis has established a trend of operating deficits and diminished general fund reserves.
ACCESSION #
15256934

 

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