Summary: Mahoning County, Ohio; General Obligation; Note; Sales Tax

S&P Global Ratings assigned its 'AA-' long-term rating to Mahoning County, Ohio's $4.3 million series 2021 limited-tax general obligation (GO) various-purpose improvement and refunding bonds. At the same time, we assigned our 'SP-1+' short-term rating to the county's $1.5 million 2021 GO various-purpose notes. We also affirmed our 'AA-' long-term rating on the county's existing GO bonds. The rating outlook is stable. The series 2021 GO bonds and notes are secured by the county's full faith credit and resources and an agreement to levy ad valorem property taxes within its share of its 10-mill limitation. We rate its limited-tax bonds based on our view of its general creditworthiness, given that ad valorem taxes are collected from its entire tax base

...S&P Global Ratings assigned its '##-' long-term rating to Mahoning County, Ohio's $4.3 million series 2021 limited-tax general obligation (GO) various-purpose improvement and refunding bonds. At the same time, we assigned our 'SP-1+' short-term rating to the county's $1.5 million 2021 GO various-purpose notes. We also affirmed our '##-' long-term rating on the county's existing GO bonds. The rating outlook is stable. The series 2021 GO bonds and notes are secured by the county's full faith credit and resources and an agreement to levy ad valorem property taxes within its share of its 10-mill limitation. We rate its limited-tax bonds based on our view of its general creditworthiness, given that ad valorem taxes are collected from its entire tax base and because of a lack of limitations on the fungibility of resources available for debt service. Officials plan to use $2.8 million of the series 2021 bond proceeds to current refund its existing series 2014. It expects to use $1.5 million of...

Summary