Standard&Poor's Ratings Services assigned its 'SP-1+' short-term rating to Mahoning County, Ohio's series 2015 general obligation (GO) various purpose notes. At the same time, we affirmed our 'A+' long-term rating on the county's existing GO debt. The outlook on the long-term ratings is stable. Mahoning County's limited-tax GO pledge secures the notes, subject to the state's 10-mill limitation. Authorized issuance of long-term bonds further secures the bond anticipation notes (BANs). It is our understanding that the county will use note proceeds for retirement of notes, improvements in Milton Township, wastewater upgrades and various other purposes. The short-term rating reflects our view of the county's: Long-term investment-grade GO rating; GO security for the BANs; and Low market risk, indicating
