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Criteria I Governments I U.S. Public Finance: U.S. Local Governments General Obligation Ratings:Methodology <br /> And Assumptions <br /> • Liquidity;and <br /> • Debt and contingent liabilities. <br /> Although the criteria assess the same factors,the measures used to assess these factors are detailed in a manner <br /> consistent with the characteristics and reporting conventions of U.S.public finance obligors. <br /> 6. The initial indicative rating results from a weighted average of the factors detailed above.The economy score receives <br /> a 30%weight, and the management score receives 20%.The financial-related scores,liquidity,budgetary performance <br /> and budget flexibility,each account for 10%of the total score.The institutional framework score also receives a 10% <br /> weight,as does the debt and contingent liabilities score. Certain score levels result in ratings different from those <br /> suggested by the weighted average. Chart 1 outlines a summary of the analytical framework for assigning a local <br /> government's GO rating. <br /> WWW.STANDARDANDPOORS.COM/RATINGSDIRECT SEPTEMBER 12,2013 4 <br /> 1190266 1300881696 <br />