OREANDA-NEWS. S&P Global Ratings raised its long-term rating on Washington County Public Facilities Authority, Ga.'s series 2013 revenue bonds, supported by Washington County, to 'AA-' from 'A+'. The outlook is stable."While we understand the county has significant medium-term debt plans related to the Washington Regional Medical Center, the rating action reflects the county's improved unemployment rate and its adoption of formal financial management policies in several of the factors we consider under our Financial Management Assessment methodology," said S&P Global Ratings credit analyst Daniel Hughes. The series 2013 revenue bonds are secured by a pledge of, and lien on, payments to be made by the county to the authority pursuant to an intergovernmental contract, under which the county has agreed to make payments directly to the bond fund custodian in amounts sufficient to pay principal and interest on the bonds. The county's obligation to make the payments is absolute and unconditional and will not expire as long as any of the bonds remain outstanding. Under the contract, the county has pledged its full faith and credit and, to the extent necessary to make the payments, the county has agreed to levy an unlimited ad valorem on all taxable property in the county. However, Washington County confirmed it intends to pay principal and interest on the bonds from its 1% special-purpose local-option sales and use tax, which expires on Sept. 30, 2020.