Summary: Orange County, Florida; Miscellaneous Tax; Sales Tax

S&P Global Ratings raised its rating on Orange County, Fla.'s half-cent sales tax bonds one notch to 'AA+' from 'AA'. At the same time, S&P Global Ratings raised its rating on the county's series 2009 capital improvement bonds to 'AA+' from 'AA'. In addition, S&P Global Ratings raised its rating on the county's public service tax (PST) bonds to 'AA+' from 'AA'. The outlook on all ratings bonds is stable. The upgrades reflect the application of our "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018), which factors in the strength and stability of pledged revenue and the general credit quality of the municipality where taxes are distributed or collected, known as the obligor's creditworthiness. In addition, the upgrades reflect

...S&P Global Ratings raised its rating on Orange County, Fla.'s half-cent sales tax bonds one notch to '##+' from '##'. At the same time, S&P Global Ratings raised its rating on the county's series 2009 capital improvement bonds to '##+' from '##'. In addition, S&P Global Ratings raised its rating on the county's public service tax (PST) bonds to '##+' from '##'. The outlook on all ratings bonds is stable. The upgrades reflect the application of our "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018), which factors in the strength and stability of pledged revenue and the general credit quality of the municipality where taxes are distributed or collected, known as the obligor's creditworthiness. In addition, the upgrades reflect the sustained very strong coverage levels on each of the bonds outstanding, driven by robust long-term revenue growth. Finally, S&P Global Ratings affirmed its '##-' rating, with a stable outlook, on Orange County's tourist development tax (TDT) revenue...

Summary