Cherokee County, AL, Series 2010-A, Series 2014-A Warrants Underlying Ratings Suspended On Lack Of Timely Information

DALLAS (S&P Global Ratings) Feb. 4, 2019--S&P Global Ratings has suspended its 
'BBB-' underlying ratings (SPUR) on Cherokee County, Ala.'s series 2010-A and 
2014-A general obligation warrants. At the same time, S&P Global Ratings 
removed the ratings from CreditWatch, where they were placed with negative 
implications on Dec. 21, 2018. 

This action follows repeated attempts by S&P Global Ratings to obtain timely 
information of satisfactory quality to maintain our rating on the securities 
in accordance with our applicable criteria and policies. Prior to suspending 
the ratings, S&P Global Ratings took rating actions that we considered 
appropriate given available information. 

We understand that the fiscal 2017 audit is still under review by the State of 
Alabama Examiners of Public Accounts as required by state law. To satisfy our 
quality of information standards and maintain the rating, we expected to 
receive the audit by year-end. If the audit is completed and we receive 
information that we consider sufficient and of satisfactory quality, we will 
conduct a review and take a rating action within 90 days of the rating 
suspension to reinstate the rating. However, failure to receive the requested 
information will likely result in our withdrawal of the affected rating.