S&P Global Ratings assigned its 'AA+' long-term rating to Sarasota County, Fla.'s series 2019C 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 on revenue from the county's share of the local government half-cent sales tax secure the bonds. The series 2019C bond proceeds will be used to 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
