Summary: Ector County, Texas; General Obligation

S&P Global Ratings assigned its 'AA-' long-term rating to Ector County, Texas' series 2017 certificates of obligation. The outlook is stable. The certificates are payable from revenue from an ad valorem tax levied on all taxable property in the county, within the limits prescribed by law. The maximum allowable rate in Texas is 80 cents per $100 of assessed value (AV) for all purposes, with the portion dedicated to debt service limited to 40 cents per $100 of AV. The county's current rate is 37 cents per $100 of AV, with 2.3243 cents dedicated to debt service. Despite the limitations imposed by the state levy limit law, we made no rating distinction for the limited-tax GO pledge, given the county's

...S&P Global Ratings assigned its '##-' long-term rating to Ector County, Texas' series 2017 certificates of obligation. The outlook is stable. The certificates are payable from revenue from an ad valorem tax levied on all taxable property in the county, within the limits prescribed by law. The maximum allowable rate in Texas is 80 cents per $100 of assessed value (AV) for all purposes, with the portion dedicated to debt service limited to 40 cents per $100 of AV. The county's current rate is 37 cents per $100 of AV, with 2.3243 cents dedicated to debt service. Despite the limitations imposed by the state levy limit law, we made no rating distinction for the limited-tax GO pledge, given the county's flexibility under the levy limit as well as very strong liquidity. Officials will use certificate proceeds to expand the county jail and law enforcement facility. The '##-' rating reflects our opinion of the county's:...

Summary