The 'SP-1+' short-term rating on Cuyahoga County, Ohio's series 2008 limited-tax general obligation (GO) capital improvement bond anticipation notes (BANs) reflects, in Standard&Poor's Ratings Services' opinion, the county's: Investment-grade credit quality with a long-term rating of 'AA+'; and History of market access. Proceeds of the series 2008 notes will fund a new juvenile court and youth intervention center and other various improvements. The county's limited-tax GO pledge secures the BANs. Management plans to take out the BANs either through the issuance of long-term bonds or roll-over notes before maturity in December 2009. Should the issuance of debt to take out the BANs be delayed, the county has stated that it has sufficient funds in other accounts to cover
