NEW YORK (Standard&Poor's) April 20, 2005--Standard&Poor's Ratings Services assigned its 'A' rating to Orange County, Fla.'s tourist development tax refunding revenue bonds, series 2005, and affirmed its 'A' underlying rating (SPUR) on the outstanding bonds. The outlook is stable. "The stable outlook anticipates future tourist development tax revenues will continue to cover maximum annual debt service in excess of the 1.4x target, and Orange County's tourist-based economy will continue its strong performance," said Standard&Poor's credit analyst Eden Perry. The 'A' rating is based on the following factors: a strong, underlying economic base anchored by the city of Orlando, a major tourist destination; good debt-service coverage of future maximum annual debt service; strong pledged revenue
