Standard&Poor's Rating Services assigned its 'AA-' long-term rating to Houston County, Ala.'s series 2013A general obligation (GO) refunding warrants. At the same time, we also affirms our 'AA-' rating on the county's previously issued GO debt and on the county water authority's water revenue bonds. The outlook on all ratings is stable. The water revenue bonds are secured with revenues from the operations of the water system and are additionally secured by a funding agreement with Houston County. Per the agreement, the county's full faith and credit is irrevocably pledged to make payments. The ratings assigned are based on the agreement with the County. The series 2013A refunding warrants and the county's outstanding warrants are GOs of the
