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Credit Ratings

General Obligation Bonds

The General Obligation Bonds of the State of Tennessee are currently rated as follows:

Moody's Standard & Poor's Fitch
Aaa                    
AAA
AAA                    

General Obligation Commercial Paper

The Commercial Paper of the State of Tennessee is currently rated as follows:

Moody's Standard & Poor's

P-1

A-1+

For information regarding the redemption of bearer bonds, please contact the Office of State and Local Finance.

Higher Education Facilities Program Bonds

The bonds of the Tennessee State School Bond Authority are currently rated as follows:

Moody's Standard & Poor's Fitch
Aa1;
Stable Outlook*
AA+;
Stable Outlook
AA+;
Stable Outlook

*Moody’s Investors Service Inc. has assigned the Authority’s Bonds an enhanced rating of “Aa1”, with a stable outlook, based in part on its  assignment to the Authority’s Legislative Appropriations intercept program of a programmatic rating of “Aa1”, with a stable outlook.


Qualified School Construction Bonds

The two QSCB issues of the Tennessee State School Bond Authority are currently rated as follows:

2009 Bond Issue
Moody's Standard & Poor's Fitch
Aa2;
Stable Outlook
AA+;
Stable Outlook
Not Rated
2010 Bond Issue
Moody's Standard & Poor's Fitch
Aa2;
Stable Outlook
AA+;
Stable Outlook
AA;
Stable Outlook

Tennessee Local Development Authority Bonds

The bonds of the Tennessee Local Development Authority are currently rated as follows:

Moody's Standard & Poor's
Fitch                   
Not Rated

AA

AA