Summary: Franklin County Convention Facilities Authority, Ohio; Appropriations

S&P Global Ratings assigned its 'AA' long-term rating to the Franklin County Convention Facilities Authority (FCCFA, or the authority), Ohio's approximately $7.5 million series 2020A tax and lease revenue anticipation refunding bonds and approximately $188.3 million series 2020B tax and lease revenue anticipation funding bonds (taxable). At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the authority's series 2010 lease revenue anticipation bonds, series 2014 tax and lease revenue anticipation and refunding bonds, and series 2019 lease appropriation bonds. The outlook is stable. The proceeds of the previously issued bonds were issued to finance projects at the Greater Columbus Convention Center and Hotel. The authority will use the series 2020 bond proceeds to restructure its series

...S&P Global Ratings assigned its '##' long-term rating to the Franklin County Convention Facilities Authority (FCCFA, or the authority), Ohio's approximately $7.5 million series 2020A tax and lease revenue anticipation refunding bonds and approximately $188.3 million series 2020B tax and lease revenue anticipation funding bonds (taxable). At the same time, S&P Global Ratings affirmed its '##' long-term rating on the authority's series 2010 lease revenue anticipation bonds, series 2014 tax and lease revenue anticipation and refunding bonds, and series 2019 lease appropriation bonds. The outlook is stable. The proceeds of the previously issued bonds were issued to finance projects at the Greater Columbus Convention Center and Hotel. The authority will use the series 2020 bond proceeds to restructure its series 2014, 2015, and 2017 tax and lease revenue anticipation and refunding bonds in response to a shortfall in hotel taxes resulting from the COVID-19 pandemic and ensuing recession. A portion...

Summary