Summary: Cuyahoga County, Ohio; Appropriations; General Obligation; Miscellaneous Tax

S&P Global Ratings assigned its 'AA' long-term rating to Cuyahoga County, Ohio's series 2020A and 2020B limited-tax general obligation (GO) capital improvement refunding bonds. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the county's general obligation (GO) and nontax revenue debt and its 'AA-' long-term rating on appropriation-secured bonds issued by or for Cuyahoga County. The outlook is stable. The county's full faith and credit and an agreement to levy ad valorem property taxes within the state's 10-mill limitation secure its GO debt. We rate it at the same level as our view of the county's general creditworthiness. We believe that the county's ability to pay these obligations is closely tied to its operations and

...S&P Global Ratings assigned its '##' long-term rating to Cuyahoga County, Ohio's series 2020A and 2020B limited-tax general obligation (GO) capital improvement refunding bonds. At the same time, S&P Global Ratings affirmed its '##' long-term rating on the county's general obligation (GO) and nontax revenue debt and its '##-' long-term rating on appropriation-secured bonds issued by or for Cuyahoga County. The outlook is stable. The county's full faith and credit and an agreement to levy ad valorem property taxes within the state's 10-mill limitation secure its GO debt. We rate it at the same level as our view of the county's general creditworthiness. We believe that the county's ability to pay these obligations is closely tied to its operations and see no limits on the fungibility of resources available for debt service. The county will use series 2020A bond proceeds to refund the series 2012 GO capital improvement and refunding bonds for interest cost savings. Series 2020B bond proceeds...

Summary