Summary: Mahoning County, Ohio; Note; Sales Tax

S&P Global Ratings assigned its 'AA' long-term rating to Mahoning County, Ohio's $1.8 million series 2020 various-purpose sales tax-supported bonds. At the same time, we assigned our 'SP-1+' short-term rating to the county's $4.1 million sales tax notes. In addition, we affirmed our 'AA' long-term rating on the county's 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 secures both series 2020 bonds notes. The sales tax was authorized by voters in 2007 to provide additional general revenues for the county and has no expiration date nor is it subject to repeal. We rate the notes and bonds under our

...S&P Global Ratings assigned its '##' long-term rating to Mahoning County, Ohio's $1.8 million series 2020 various-purpose sales tax-supported bonds. At the same time, we assigned our 'SP-1+' short-term rating to the county's $4.1 million sales tax notes. In addition, we affirmed our '##' long-term rating on the county's 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 secures both series 2020 bonds notes. The sales tax was authorized by voters in 2007 to provide additional general revenues for the county and has no expiration date nor is it 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 the strength and stability of pledged revenue and Mahoning County's general creditworthiness (the obligor's creditworthiness [OC]). We view the county's...

Summary