Kroll Bond Rating Agency (KBRA) affirms the long-term rating of AA+ and revises from Stable to Positive the Outlook for Orange County, Florida’s Sales Tax Revenue Bonds. This rating applies to all of the County’s outstanding Sales Tax Revenue Bonds with the exception of the Sales Tax Revenue Bond, Series 2015 and the Sales Tax Revenue Refunding Bond, Series 2015A which were privately placed. The outlook revision takes into account the sales tax’s resilience and growth since the recession and the improved coverage provided to the outstanding Sales Tax Bonds. As of September 30, 2017, the County had approximately $215.4 million in Sales Tax Revenue Bonds outstanding.
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Orange County, FL Sales Tax Revenue Bonds
KBRA also affirms the general obligation long-term rating of AAA with a Stable Outlook as an assessment of the general obligation bond credit worthiness of Orange County, Florida. Orange County has no outstanding general obligation debt and approval of the electorate would be needed to issue such debt. The County’s total debt outstanding as of September 30, 2017 is $1.1 billion. The debt is secured by a range of excise taxes including sales taxes, public utility taxes, and tourism development taxes.
Orange County, FL General Obligation
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