South Orange County Public Financing Authority, CA Special Tax Revenue Bond Rating Raised To 'A' On Criteria Application

SAN FRANCISCO (S&P Global Ratings) April 24, 2019--S&P Global Ratings raised its long-term rating and underlying rating (SPUR) to 'A' from 'A-' on the South Orange County Public Financing Authority, Calif.'s 2018 series A special tax revenue refunding bonds. The outlook is stable.
The rating action reflects the application of our updated methodology "Special Assessment Debt," published April 2, 2018 on RatingsDirect, and our view of the very strong local economy.
"The rating reflects our view of CFD No. 2000-1's very strong economic fundamentals and adequate-to-strong district characteristics," said S&P Global Ratings credit analyst Brian Phuvan.
The stable outlook reflects our expectation that the local economy will remain very strong given its access to a broad and diverse MSA, very strong incomes, and the affluent nature of the community.
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