S&P Global Ratings assigned its 'SP-1+' short-term rating to Hamilton County , Ohio?s $207 million sales tax bond anticipation notes (BANs), subordinate series 2025. At the same time, S&P Global Ratings affirmed its 'AA-' long-term rating on the county's first lien 0.5% sales tax bonds outstanding. The outlook, where applicable, is stable. The series 2025 BAN proceeds will start to fund renovations to Paycor Stadium, home of the Cincinnati Bengals professional football team. The county?s governing body signed a 11-year lease agreement with the Bengals in August 2025 which outlines $470 million in stadium renovations, including improvements to premium areas, stadium technology, concourse upgrades, and external streetscaping. The lease obligates the county to support $350 million in renovations to Paycor,
