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Summary: Cabarrus County, North Carolina; Appropriations <br />For additional credit information on the county, please refer to the summary analysis published May 31, 2011, on <br />RatingsDirect on the Global Credit Portal. <br />Outlook <br />The stable outlook mirrors the county's general credit outlook. <br />Related Criteria And Research <br />• USPF Criteria: GO Debt, Oct. 12, 2006 <br />• USPF Criteria: Appropriation- Backed Obligations, June 13, 2007 <br />Cabarrus Cnty taxable ltd oblig qual sch const bnds <br />Long Term Rating AA /Stable <br />AA /Sta b I e <br />Cabarrus Cnty COPS <br />Long Term Rating AA /Stable Affirmed <br />Cabarrus Cnty COPs <br />Long Term Rating AA /Stable Affirmed <br />Cabarrus Cnty COPs <br />Long Term Rating <br />Cabarrus Cnty COPs <br />I .,.,.. T ..., R„+;,,.. <br />Cabarrus Cnty certs of part ser 2003 dtd 07/15/2003 due 02/01/2007 -2022 2024 <br />Unenhanced Rating AA(SPUN /Stable <br />Cabarrus Cnty Dev Corp, North Carolina <br />Cabarrus Cnty, North Carolina <br />Cabarrus Cnty Dev Corp (Cabarrus Cnty) certs of part ser 2007 <br />Unenhanced Rating AA(SPUM /Stable <br />Cabarrus Cnty Dev Corp (Cabarrus Cnty) certs of part ser 2008A & 20086 <br />Unenhanced Rating AA(SPUM /Stable <br />Many issues are enhanced by bond insurance <br />Affirmed <br />Affirmed <br />Complete ratings information is available to subscribers of RatingsDirect on the Global Credit Portal at <br />www.globalcreditportal.com. All ratings affected by this rating action can be found on Standard & Poor's public <br />Web site at www.standardandpoors.com. Use the Ratings search box located in the left column. <br />AA /Sta b I e <br />Affirmed <br />Affirmed <br />Affirmed <br />Affirmed <br />www. standardandpoors .com /ratingsdirect Attachm nuAber 2 <br />1 -1 Pa a 6352 66781 <br />g <br />