Cuyahoga County, OH's $129.3 Million Series 2024 Refunding COPs Assigned 'AA-' Rating - S&P Global Ratings’ Credit Research

Cuyahoga County, OH's $129.3 Million Series 2024 Refunding COPs Assigned 'AA-' Rating

Cuyahoga County, OH's $129.3 Million Series 2024 Refunding COPs Assigned 'AA-' Rating - S&P Global Ratings’ Credit Research
Cuyahoga County, OH's $129.3 Million Series 2024 Refunding COPs Assigned 'AA-' Rating
Published Oct 15, 2024
2 pages (1105 words) — Published Oct 15, 2024
Price US$ 150.00  |  Buy this Report Now

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Abstract:

CHICAGO (S&P Global Ratings) Oct. 15, 2024--S&P Global Ratings assigned its 'AA-' long-term rating to Cuyahoga County, Ohio's $129.3 million series 2024 refunding certificates of participation (Convention Hotel Project). At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the county's previously issued general obligation and nontax revenue debt and its 'AA-' long-term rating on the county's previously issued appropriation-secured debt, based on the application of its "Methodology for Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. The outlook is stable. The 2024 certificate proceeds will be used to refund the county's series 2014 certificates. "The 'AA' rating reflects our view of the county's above-average per capita gross county product, very strong reserves, good financial management

  
Brief Excerpt:

...October 15, 2024 CHICAGO (S&P Global Ratings) Oct. 15, 2024--S&P Global Ratings assigned its '##-' long-term rating to Cuyahoga County, Ohio's $129.3 million series 2024 refunding certificates of participation (Convention Hotel Project). At the same time, S&P Global Ratings affirmed its '##' long-term rating on the county's previously issued general obligation and nontax revenue debt and its '##-' long-term rating on the county's previously issued appropriation-secured debt, based on the application of its "Methodology for Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. The outlook is stable. The 2024 certificate proceeds will be used to refund the county's series 2014 certificates. "The '##' rating reflects our view of the county's above-average per capita gross county product, very strong reserves, good financial management framework, manageable debt and pension liabilities," said S&P Global Ratings credit analyst Benjamin Gallovic. The stable outlook reflects our...

  
Report Type:

Ratings Action

Issuer
Cuyahoga County
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Cuyahoga County, OH's $129.3 Million Series 2024 Refunding COPs Assigned 'AA-' Rating" Oct 15, 2024. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Cuyahoga-County-OH-s-129-3-Million-Series-2024-Refunding-COPs-Assigned-AA-Rating-3267747>
  
APA:
S&P Global Ratings’ Credit Research. (). Cuyahoga County, OH's $129.3 Million Series 2024 Refunding COPs Assigned 'AA-' Rating Oct 15, 2024. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Cuyahoga-County-OH-s-129-3-Million-Series-2024-Refunding-COPs-Assigned-AA-Rating-3267747>
  
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