Summary: Houston County, Alabama; General Obligation

S&P Global Ratings affirmed its 'AA-' long-term rating on Houston County, Ala.'s outstanding general obligation (GO) bonds and removed it from CreditWatch with negative implications, where it had been placed on April 28, 2022. The outlook is stable. The stable outlook reflects S&P Global Ratings' opinion of the county's stable budgetary performance and reserves based on the receipt of the fiscal 2020 audit and fiscal 2021 and 2022 estimates. 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

...Most recent Historical information 2020 2019 2018 Adequate economy Projected per capita EBI % of U.S. 81 Market value per capita ($) 99,307 Population 105,076 104,636 104,249 County unemployment rate(%) 3.4 Market value ($000) 10,434,752 10,132,680 7,761,885 Ten largest taxpayers % of taxable value 29.8 Strong budgetary performance Operating fund result % of expenditures 10.5 (5.6) (2.4) Total governmental fund result % of expenditures 5.0 1.3 (5.3) Very strong budgetary flexibility Available reserves % of operating expenditures 29.9 19.3 21.3 Total available reserves ($000) 10,336 7,201 7,221 Very strong liquidity Total government cash % of governmental fund expenditures 33 21 25 Total government cash % of governmental fund debt service 331 181 193 Adequate management Financial Management Assessment Standard Very strong debt & long-term liabilities Debt service % of governmental fund expenditures 9.8 11.7 12.8 Net direct debt % of governmental fund revenue 37 Overall net debt % of market...

Summary