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Attachment 4 ^ <br /> Key Debt Ratio: Tax Supported Payout Ratio ORANGE COUNTY <br /> NORTH CAROLINA <br /> 10-Year Payout Ratio 10-year Payout Ratio Peer Comparative (Higher is Better) <br /> 100.0% — <br /> Orange County(2017) <br /> 90.0% <br /> 80,0% National'Aaa'Median <br /> 70.0% <br /> 60.0% NC'Aaa'Median <br /> 50.0% <br /> Buncombe <br /> 40.0% Durham <br /> 30.0% Forsyth <br /> 20.0% Guilford <br /> 10.0% Mecklenburg <br /> 0.0% New Hanover <br /> 47 O �b O O ti 0. 3 Union <br /> O� O, Oti 00 00 00 00 00' 00' 00' 00 00 00 O� O� O� O� wake <br /> 0 20 40 60 80 100 <br /> 10-yr Payout Percent <br /> • Existing 10-year Payout Ratio ■ Rating Considerations: <br /> — FY 2017: 89.7% — Moody's: Moody's rating criteria for General Obligation credits <br /> allows for a scorecard adjustment if an issuer has unusually slow <br /> or rapid amortization of debt principal. <br /> • The 10 Year Payout Ratio measures the amount of principal to be <br /> retired in the next 10 years. <br /> — S&P: A payout ratio greater than 65% results in a one point positive <br /> qualitative adjustment to the Debt & Contingent Liabilities section <br /> • This ratio is an important metric that indicates whether or not a of S&P's General Obligation rating methodology. <br /> locality is back-loading its debt. <br /> • The County does not have a Financial Policy setting a minimum 10- <br /> Year Payout Ratio. <br /> COMPANY <br /> DAVENPORT 8L <br /> Source: LGC Bond Ledger,2016 CAFR,County Budget Documents,Moody's Investors Service,and S&P <br /> June 13,2017 Orange County, NC 9 <br />