Standard&Poor's Ratings Services raised its underlying rating (SPUR) on Orange County, Fla.'s capital improvement revenue refunding bonds series 1998 to 'A+' from 'A' based on the state of Florida's steady commitment over the past several years to protect the integrity of the revenue sharing trust fund for counties, as well as strong growth in sales tax revenue. The statewide sales tax provides significant revenues to the trust fund and a high level of coverage. Revenues (consisting primarily of sales tax revenue) are collected statewide and held in the revenue sharing trust fund for counties. The revenues are distributed to eligible counties on a monthly basis. Guaranteed entitlement revenues are authorized to secure bonds pursuant to state statute. The
