S&P Global Ratings assigned its 'AA+' rating, and stable outlook, to Washington County, Md.'s series 2020 taxable refunding general obligation (GO) bonds, totaling $19.7 million. The county's full-faith-and-credit pledge secures the GO bonds. Officials will use proceeds from this issue to refund previously issued debt for interest-rate savings purposes, finance various capital projects, and refund previously issued debt. The rating reflects our opinion of the county's strong historical financial results, supported by a stable property tax base, in addition to a strong management team that maintains a range of 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, Washington County's
