NEW YORK (Standard&Poor's) May 14, 2015--Standard&Poor's Ratings Services raised its rating on Orange County, Fla.'s tourist development tax (TDT) bonds to 'AA-' from 'A+'. At the same time, Standard&Poor's assigned its 'AA-' rating to the county's series 2015 TDT refunding revenue bonds. The outlook is stable. "The upgrade is due to strong demand for hotel rentals and other short-term accommodations in the county, which has resulted in higher occupancy rates and pledged revenue growth," said Standard&Poor's credit analyst Hilary Sutton. The bonds are special obligations of the county secured by its TDT levied at a rate of 4% of each dollar charged for hotel rentals and other short-term accommodations, as well as
