King County, WA Limited-Tax GO Refunding Bonds Assigned 'AAA' Rating

SAN FRANCISCO (S&P Global Ratings) Sept. 21, 2017--S&P Global Ratings assigned its 'AAA' long-term rating to King County, Wash's limited-tax general obligation (GO) series 2017 refunding bonds (payable from sewer revenues). The outlook is stable. At the same time, S&P Global Ratings affirmed its: 'AAA' long-term rating and underlying rating (SPUR) on King County's existing general obligation (GO) bonds; 'AAA' long-term rating on King County Housing Authority's existing bonds, which are backed by a contingent loan agreement with the county; 'AAA' long-term rating on certain county GO bonds that are also backed by a first-lien pledge of sales tax revenues; and 'AAA/A-1+' rating on certain county GO debt that is also backed by a second lien on sewer revenues, with

...SAN FRANCISCO (S&P Global Ratings) Sept. 21, 2017--S&P Global Ratings assigned its '###' long-term rating to King County, Wash's limited-tax general obligation (GO) series 2017 refunding bonds (payable from sewer revenues). The outlook is stable. At the same time, S&P Global Ratings affirmed its: + '###' long-term rating and underlying rating (SPUR) on King County's existing general obligation (GO) bonds; + '###' long-term rating on King County Housing Authority's existing bonds, which are backed by a contingent loan agreement with the county; + '###' long-term rating on certain county GO bonds that are also backed by a first-lien pledge of sales tax revenues; and + '###/A-1+' rating on certain county GO debt that is also backed by a second lien on sewer revenues, with the short-term rating based on the State Street Bank & Trust Co. short-term rating as liquidity provider. "The ratings reflect our view of the county's very strong economy with access to a broad and diverse metropolitan statistical...

Ratings Action