...August 8, 2022 DALLAS (S&P Global Ratings) Aug. 8, 2022--S&P Global Ratings revised its outlook on Sarasota County, Fla.'s capital improvement revenue bonds to stable from negative. At the same time S&P Global Ratings affirmed its '##+' long-term rating on the county's capital improvement revenue bonds. "The outlook revision to stable reflects maintenance of coverage above 4.0x maximum annual debt service despite the recent COVID-19 pandemic, strong growth trends year to date, and limited debt plans," said S&P Global Ratings credit analyst Jennifer Garza. A lien and pledge on revenue from the county's share of the local government half-cent sales tax secure the bonds. Sarasota County's half-cent sales tax revenues pledged experienced a minor disruption in the annual revenue trend during 2020 due to the pandemic but rebounded strongly in 2021. Based year-to-date pledged revenue trends, we expect the county will be able to maintain very strong maximum annual debt service (MADS) coverage....
