Summary: Orange County, North Carolina; Appropriations; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to Orange County, N.C.'s series 2017 general obligation (GO) bonds and its 'AA+' rating to the county's series 2017 limited obligation bonds. At the same time, we affirmed our 'AAA' long-term rating on the county's existing GO debt and affirmed our 'AA+' long-term rating on the county's appropriation-backed debt. The outlook on all ratings is stable. The county's full-faith-and-credit pledge secures the GO bonds. The county is authorized and required by law to levy on all property taxable by the county such ad valorem taxes, without limitation as to rate or amount, as may be necessary to pay principal and interest on the bonds. We understand that the county intends to use

...S&P Global Ratings assigned its '###' long-term rating to Orange County, N.C.'s series 2017 general obligation (GO) bonds and its '##+' rating to the county's series 2017 limited obligation bonds. At the same time, we affirmed our '###' long-term rating on the county's existing GO debt and affirmed our '##+' long-term rating on the county's appropriation-backed debt. The outlook on all ratings is stable. The county's full-faith-and-credit pledge secures the GO bonds. The county is authorized and required by law to levy on all property taxable by the county such ad valorem taxes, without limitation as to rate or amount, as may be necessary to pay principal and interest on the bonds. We understand that the county intends to use the proceeds of the series 2017A and 2017B bonds to fund various projects for Orange County Schools and Chapel Hill-Carrboro City Schools that were identified during the county's November 2016 bond referendum. The proceeds of the series 2017C bonds will be used for...

Summary