S&P Global Ratings affirmed its'AA+'long-term rating on Orange County , Florida's half-cent sales tax bonds outstanding. The outlook is stable. The ratings reflect the application of our criteria,†Priority-Lien Tax Revenue Debt ,†Oct. 22, 2018, which factors in both the strength and stability of pledged revenue and the general creditworthiness of the municipality. A first lien on the county's apportionment of the half-cent sales tax distributed monthly from the local government half-cent sales tax clearing trust fund of the state treasury secures the bonds. Orange County's apportionment is based on a population-based formula that considers municipalities within the county and the county itself. The rating reflects Orange County’s healthy general creditworthiness and stable pledged revenue collections that
