S&P Global Ratings assigned its 'AA+' rating to St. Johns County, Fla.'s approximately $105.2 million series 2024A special obligation revenue bonds, based on the application of its criteria, "Methodology For Rating U.S. Governments," published Sept. 9, 2024. At the same time, S&P Global Ratings affirmed its 'AA+' issuer credit rating on St Johns County and its 'AA+' rating on the county's special obligation bonds. The outlook is stable. St. Johns County's special obligation bonds are secured by a covenant to budget and appropriate from non-ad valorem revenues, amounts sufficient to pay debt service. We do not differentiate between the non-ad-valorem pledge and the county's general creditworthiness, as we view the non-ad valorem pledge as a general operating pledge of St.
