...S&P Global Ratings assigned its '##+' rating to Washington County, Md.'s series 2019 public improvement general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its '##+' rating on the county's GO debt outstanding. The outlook is stable. The county's full-faith-and-credit pledge secures the GO bonds. Officials will use proceeds from this issue to finance various capital projects. The rating reflects our opinion of the county's strong and balanced historical financial results, supported by a stable and growing property tax base, in addition to a strong management team that maintains very strong formalized financial policies and practices. In addition, the county's very strong debt and contingent liability profile, including a well-funded other postemployment benefits (OPEB) plan, is a credit strength. Nevertheless, the county's below-average pension funded ratio and below-average income indicators, to some degree, offset these strengths. The rating reflects our opinion...
