S&P Global Ratings assigned its 'AA+' long-term rating to Sarasota County, Fla.'s series 2022 utility system revenue bonds. At the same time, we affirmed our 'AA+' long-term rating and underlying rating (SPUR) on the county's utility system revenue bonds outstanding. The outlook is stable. The bonds are secured by a pledge of the net revenues of the water and wastewater system. Additional security is also provided by a senior lien and pledge of legally available impact fees. Bond proceeds will essentially finance capital improvements to the systems. With this issue, the utility system will have an estimated $315 million in outstanding debt, with an estimated $180 in additional debt by 2025. Bond provisions within the bond resolution are adequate, providing
