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ICABARRUSCOUNTYI <br /> ~08T~ CASOLINA <br /> <br />MEMORANDUM <br /> <br />To: <br /> <br />From: <br /> <br />Board of County Commissioners <br /> <br />Pamela S. Dubois, Finance Director <br /> <br />Date: July 21, 2003 <br /> <br />Subject: <br /> <br />Rating Agencies Notifications <br /> <br />I am pleased to inform the Board that the three rating agencies have affirmed our current <br />ratings for the next COPS issue in July 2003. The ratings are as follows: Moody's Aa3, <br />Standard and Poors AA-, and Fitch AA-. Each rating agency has issued a rating and <br />disclosed their opinions of our current and furore outlook. The detailed reports are <br />attached for your review. <br /> <br /> Finance Department <br /> <br />P.O. Box707 · Concord, NC28026-0707 · 704-920-2104 <br /> <br /> <br />