SAN FRANCISCO (S&P Global Ratings) Oct. 23, 2018--S&P Global Ratings assigned its 'AA' long-term rating to King County, Wash.'s $100 million series 2011 and $100 million of series 2012 junior-lien variable rate demand sewer revenue bonds (mandatory put bonds). The outlook is stable. "The rating reflects our expectation that the sewer system's strong financial management practices, use of timely rate adjustments, and the economic stability of the Seattle metropolitan area will remain supportive of the system's very high credit quality," said S&P Global Ratings credit analyst Chloe Weil. The bonds are currently separately secured direct purchase obligations of U.S. Bank N.A. (series 2011), and Wells Fargo Municipal Capital Strategies (series 2012) both of which are payable from sewer net revenue
