...November 8, 2021 SAN FRANCISCO (S&P Global Ratings) Nov. 8, 2021--S&P Global Ratings assigned its '##' long-term rating to King County, Wash.'s approximately $145 million 2021 series A junior lien sewer revenue refunding bonds (SIFMA index), issued for the county's wastewater treatment division (WTD). At the same time, S&P Global Ratings affirmed its: - '##+' long-term rating on the county's parity lien sewer revenue bonds and - '##' long-term rating and underlying rating (SPUR) on the county's junior-lien sewer revenue bonds. The outlook is stable. "The rating reflects our assessment of the WTD's recent and projected all-in coverage, its healthy unrestricted cash and investments, and overall economic considerations of the customer base," said S&P Global Ratings credit analyst Chloe Weil. Nearly all sewage within the county and some neighboring communities is treated on a wholesale basis by WTD's regional wastewater treatment system. We think King County's direct environmental risks are...
