S&P Global Ratings revised the outlook to stable from negative and affirmed its 'AA-' rating on Bee County, Texas' general obligation (GO) debt and combination tax and limited-pledge revenue certificates of obligation (COs) outstanding. The outlook revision reflects our view of the county's growing tax base, positive operations, and improving reserves over the past two years and stability in its inmate population at two state prison facilities. The stable outlook reflects the county's expected stable financial position and local economy and lack of additional debt needs. An ad valorem tax pledge supports the county's series 2020 GO bonds and series 2017 COs. Counties in Texas are limited to a maximum allowable ad valorem tax rate of 80 cents per $100
