...SAN FRANCISCO (Standard & Poor's) Oct. 19, 2015--Standard & Poor's Ratings Services raised its rating to '##' from '##-' on King County, Wash.'s existing junior-lien bonds. At the same time, Standard & Poor's assigned its '##+' long-term rating to the county's 2015 series B sewer revenue refunding bonds, issued for the county's sewer system. At the same time, Standard & Poor's affirmed its: + '##+' rating on the county's $2.46 billion of parity bonds; and + 'A-1+' short-term rating on the county's existing commercial paper (CP), which is secured by a lien subordinate to the county sewer system's junior-lien obligations. The outlook, where applicable, is stable. "The raised rating on the junior-lien is based on our application of the criteria 'Assigning Issue Credit Ratings Of Operating Entities,' published on May 20, 2015," said Standard & Poor's credit analyst Chloe Weil. The 2015 series B bonds are being issued to refund certain outstanding fixed-rate bonds for debt service savings and...
