Summary: Sarasota County, Florida; Sales Tax

S&P Global Ratings assigned its 'AA+' long-term rating to Sarasota County, Fla.'s series 2019A capital improvement revenue bonds and series 2019B capital improvement revenue refunding bonds. At the same time, S&P Global Ratings affirmed its 'AA+' rating on the county's parity bonds. The outlook is stable. A lien and pledge upon revenue from the county's share of the local government half-cent sales tax secure the bonds. The series 2019A bond proceeds will be used to finance a Sarasota County Sherriff's Office facility; the series 2019B bonds will refund parity bonds outstanding for savings. The rating reflects the application of our "Priority-Lien Tax Revenue Debt" criteria, published Oct. 22, 2018, which factors in both the strength and stability of the pledged

...S&P Global Ratings assigned its '##+' long-term rating to Sarasota County, Fla.'s series 2019A capital improvement revenue bonds and series 2019B capital improvement revenue refunding bonds. At the same time, S&P Global Ratings affirmed its '##+' rating on the county's parity bonds. The outlook is stable. A lien and pledge upon revenue from the county's share of the local government half-cent sales tax secure the bonds. The series 2019A bond proceeds will be used to finance a Sarasota County Sherriff's Office facility; the series 2019B bonds will refund parity bonds outstanding for savings. The rating reflects the application of our "Priority-Lien Tax Revenue Debt" criteria, published Oct. 22, 2018, which factors in both the strength and stability of the pledged revenue as well as the general credit quality of the government entity levying the tax and maintaining substantial rights over the pledged revenue (the obligor's creditworthiness). For more information on Sarasota County's general...

Summary