Summary: Mahoning County, Ohio; General Obligation; Note

S&P Global Ratings raised its long-term rating on Mahoning County, Ohio's existing general (GO) bonds to 'AA-' from 'A+'. The outlook is stable. In addition, we assigned our 'SP-1+' short-term rating to the county's 2018 GO various-purpose notes. We also affirmed our 'SP-1+' rating on the county's existing bond anticipation notes (BANs). The raised rating reflects our opinion of the county's ability to adjust to changes in revenues while continuing to achieve positive financial operations and grow its reserves driven by its conservative budgeting and strength of management. It also reflects our view that this will continue over our two-year outlook horizon given the city's track record. The notes are secured by the county's full faith credit and resources and

...S&P Global Ratings raised its long-term rating on Mahoning County, Ohio's existing general (GO) bonds to '##-' from 'A+'. The outlook is stable. In addition, we assigned our 'SP-1+' short-term rating to the county's 2018 GO various-purpose notes. We also affirmed our 'SP-1+' rating on the county's existing bond anticipation notes (BANs). The raised rating reflects our opinion of the county's ability to adjust to changes in revenues while continuing to achieve positive financial operations and grow its reserves driven by its conservative budgeting and strength of management. It also reflects our view that this will continue over our two-year outlook horizon given the city's track record. The notes are secured by the county's full faith credit and resources and an agreement to levy ad valorem property taxes within state limitations (i.e., a limited-tax GO [LTGO] pledge). We rate the county's limited-tax bonds based on our view of its general creditworthiness, given that ad valorem taxes are...

Summary