S&P Global Ratings assigned its 'AA-' long-term rating to Houston County, Ala.'s series 2020 general obligation (GO) warrants. At the same time, S&P Global Ratings affirmed its 'AA-' long-term rating on the county's GO debt outstanding and it's 'AA-' long-term rating on debt outstanding issued by Houston County Water Authority Inc. The outlook is stable. The county's full faith and credit secures the warrants and the GO debt outstanding. Revenue of the county legally available for payment of debt service on the warrants includes ad valorem, sales taxes, and other general revenue. None of this legally available revenue is, however, specially pledged for payment of debt service on the new and existing warrants. The property tax pledge in Alabama is
