Medina County, OH Limited-Tax GO Debt Rating Raised To 'AA+' On Stronger Economic Metrics

CHICAGO (S&P Global Ratings) Sept. 4, 2018--S&P Global Ratings raised its rating on Medina County, Ohio's limited-tax general obligation (GO) debt to 'AA+' from 'AA'. At the same time, we raised our rating on the Medina County Port Authority's series 2010A and 2010B bonds to 'AA-' from 'A+'. The outlook on all ratings is stable. "The upgrade reflects continued economic development and expansion, which has lifted income indicators and market value per capita," said S&P Global Ratings credit analyst John Sauter, "as well as ongoing strong budgetary performance, growing available reserves, and maintenance of a very strong debt and contingent liability position." The limited-tax GO bonds are secured by the county's full faith and credit and an agreement to levy

...CHICAGO (S&P Global Ratings) Sept. 4, 2018--S&P Global Ratings raised its rating on Medina County, Ohio's limited-tax general obligation (GO) debt to '##+' from '##'. At the same time, we raised our rating on the Medina County Port Authority's series 2010A and 2010B bonds to '##-' from 'A+'. The outlook on all ratings is stable. "The upgrade reflects continued economic development and expansion, which has lifted income indicators and market value per capita," said S&P Global Ratings credit analyst John Sauter, "as well as ongoing strong budgetary performance, growing available reserves, and maintenance of a very strong debt and contingent liability position." The limited-tax GO bonds are secured by the county's full faith and credit and an agreement to levy ad valorem property taxes within the 10-mill limitation. We believe the county possesses the financial stability and flexibility necessary to sustain ratings on the limited-tax bonds equal to an unlimited-tax pledge. The Port Authority...

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