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Fitch gives AA rating to Rowan County bonds

Fitch Ratings today rated Rowan County’s $72.7 million general obligation bonds “AA” and said the county’s outlook was “stable.”

Fitch said the “stable” outlook was based on:

• a stable financial profile, conservative budgeting and sound reserves;

• low debt levels;

• a limited economy that remains somewhat concentrated in manufacturing, resulting in high unemployment and modest tax base growth; and

• wealth levels that are below average relative to state and national levels.

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