Summary: Sarasota County, Florida; Water/Sewer

S&P Global Ratings assigned its 'AA+' long-term rating to Sarasota County, Fla.'s series 2019A utility system revenue refunding bonds. At the same time, we affirmed our 'AA+' long-term rating and underlying rating (SPUR) on the county's outstanding utility system revenue bonds. The rating reflects the system's very strong enterprise risk profile and extremely strong financial risk profile. The outlook is stable. The county's very strong enterprise risk profile reflects: A stable and diverse customer base; Moderately high rates, although they are lessened by only good income levels; Adequate capacity for both water and wastewater treatment; and Operational management assessment of good. The extremely strong financial risk profile reflects: Extremely strong history of all-in debt service coverage (DSC) that is projected

...S&P Global Ratings assigned its '##+' long-term rating to Sarasota County, Fla.'s series 2019A utility system revenue refunding bonds. At the same time, we affirmed our '##+' long-term rating and underlying rating (SPUR) on the county's outstanding utility system revenue bonds. The rating reflects the system's very strong enterprise risk profile and extremely strong financial risk profile. The outlook is stable. The county's very strong enterprise risk profile reflects: + A stable and diverse customer base; + Moderately high rates, although they are lessened by only good income levels; + Adequate capacity for both water and wastewater treatment; and + Operational management assessment of good. The extremely strong financial risk profile reflects: + Extremely strong history of all-in debt service coverage (DSC) that is projected to continue; + Extremely strong liquidity that we expect to be sustained through the planned capital improvement plan (CIP); and + Financial management assessment...

Summary