Fitch Affirms St. George, Utah's Outstanding Sales Tax Rev Bonds at 'AA-'; Outlook Stable

SAN FRANCISCO--(Business Wire)--
In the course of surveillance, Fitch Ratings affirms the 'AA-' rating of St.
George, Utah's (the city) approximately $25.4 million of outstanding sales tax
revenue bonds. The Rating Outlook is Stable.

The 'AA-' rating reflects the bonds' high debt service coverage from a
broad-based sales and use tax collected statewide, albeit with a somewhat high
concentration of sales taxpayers, a solid additional bonds test (ABT), and
strong city finances. These strengths are somewhat offset by the city's
geographical isolation, below-average income levels, moderate but rising
unemployment, a weakening housing market, and recent weakening of economically
sensitive revenue streams.

For more information on St. George Utah's sales tax revenue bonds, please see
the Fitch press release dated April 27, 2009, entitled 'Fitch Rates St. George,
Utah, $25.5MM Sales Tax Rev Bonds 'AA-'; Outlook Stable', available on the Fitch
web site at 'www.fitchratings.com'.

Additional information is available at 'www.fitchratings.com'.

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Fitch Ratings, San Francisco
Scott Monroe, 415-732-5618
Amy Doppelt, 415-732-5612
or
Media Relations:
Cindy Stoller, 212-908-0526, New York
Email: cindy.stoller@fitchratings.com

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