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Summary:Indian River County, Florida; General Obligation <br /> Outlook <br /> The stable outlook reflects Standard&Poor's opinion of the county's very strong management,budgetary flexibility, <br /> and liquidity. If economic indicators and budgetary performance were to improve,we could raise the rating.At the <br /> same time,if budgetary performance were to weaken,causing either budgetary flexibility or liquidity to weaken,we <br /> could lower the rating.We,however,do not expect to change the rating over the outlook's two-year period. <br /> Related Criteria And Research <br /> Related Criteria <br /> USPF Criteria: Local Government GO Ratings Methodology And Assumptions,Sept. 12, 2013 <br /> Related Research <br /> • S&P Public Finance Local GO Criteria:How We Adjust Data For Analytic Consistency, Sept. 12, 2013 <br /> • Institutional Framework Overview:Florida Local Governments <br /> Complete ratings information is available to subscribers of RatingsDirect at www.globalcreditportal.com.All ratings <br /> affected by this rating action can be found on Standard&Poor's public Web site at www.standardandpoors.com.Use <br /> the Ratings search box located in the left column. <br /> WWW.STANDARDANDPOORS.COM/RATINGSDIRECT DECEMBER 12,2014 4 <br /> 137.71;63 i 3022924)20 24 <br />