The 'AA' rating on Cuyahoga County, Ohio's taxable economic development revenue refunding bonds series 2004A and 2004C has been affirmed and reflects the county's: Nontax revenue pledge, and Strong general creditworthiness ('AA+' GO debt rating, stable outlook). Certain nontax revenues of the county secure Cuyahoga County's series 2004A (Gateway Arena project) and 2004C (Brownfield Redevelopment Fund project) taxable economic development revenue refunding bonds. The rating is one notch below the GO rating due to the limited nature of the security. The county's nontax revenue stream,with a three-year average (2005-2007, projected) of $88.8 million, based on conservative calculations, is more than sufficient to cover debt service on the bonds and parity debt. The stable outlook reflects Standard&Poor's Ratings Services'
