WASHINGTON D.C. (S&P Global Ratings) March 9, 2022--S&P Global Ratings revised the outlook to stable from negative and affirmed its 'AA-' rating on Orange County, Fla.'s series 2017, 2016, 2016A, 2016B, 2015, and 2010 tourist development tax (TDT) revenue bonds. "The outlook revision reflects our expectation that demonstrated TDT revenue recovery since the October 2021 beginning of the county's fiscal year will continue, as pandemic-related restrictions are lifted and visitor activity in the county continues to increase," said S&P Global Ratings credit analyst Christian Richards. Meanwhile, coverage dropped to 1.7x maximum annual debt service (MADS) in fiscal 2020 from 2.92x in 2019, remaining above the 1.33x additional bonds test (ABT). We expect incremental coverage improvement for fiscal 2021, with significant
