Standard&Poor's Ratings Services has assigned its 'AA' long-term rating to Orange County, Fla.'s series 2012A and 2012B sales tax revenue refunding bonds. At the same time, Standard&Poor's affirmed its 'AA' underlying rating (SPUR) on the county's existing parity sales tax debt. The outlook is stable. The first-lien pledge on the county's apportionment of the half-cent sales tax secures the bonds, excluding the county's discretionary sales tax. The sales tax is levied on various items, including tangible personal property sold at retail, with exemptions for general groceries, medical products, and professional services. The rating reflects our view of the county's: Deep economy with a large tourism component, Very strong historical coverage of maximum annual debt service (MADS),
