S&P Global Ratings assigned its 'AA+' rating to Sarasota County, Fla.'s $16.2 million series 2024 solid waste system revenue bonds. The outlook is stable. The bonds are secured by net revenue and available portions of impact fees of the solid waste system. Bond provisions are credit neutral to our analysis. As of Sept. 30, 2023, the county had approximately $31.9 million in parity debt outstanding. The county has a strong conservative management team that has long term planning well embedded in its culture, enabling it to effectively manage the solid waste operations of its system while maintaining strong overall financial metrics. Significant rate flexibility, below-average debt, and sound financial policies allow the system the capacity to manage their largest risk:
