S&P Global Ratings assigned its 'SP-1+' short-term rating to Mahoning County, Ohio's series 2019 various purpose sales tax supported notes. At the same time, we affirmed our 'AA' long-term rating on the outstanding series of bonds supported by sales tax revenues. The outlook is stable. A first lien pledge of revenue from a 0.50% sales-and-use tax levied throughout Mahoning County secure both series 2019 notes and the outstanding bonds. The sales tax was authorized by voters in 2007 to provide additional general revenues for the county and has no expiration nor is subject to repeal. We rate the notes and bonds under our criteria, titled "Priority-Lien Tax Revenue Debt," published Oct. 22, 2018, on Ratings Direct, which factors in both
