...November 18, 2024 ENGLEWOOD (S&P Global Ratings) Nov. 18, 2024--S&P Global Ratings assigned its '##+' long-term rating to King County, Wash.'s anticipated $175 million 2024 series B sewer revenue refunding bonds, issued for the county's wastewater treatment division (WTD). S&P Global Ratings also affirmed its '##+' long-term rating on the county's existing parity lien sewer revenue bonds, and its '##' long-term rating and underlying rating (SPUR) on the county's existing junior-lien sewer revenue bonds, including its '##/A-1' dual rating on the county's series 2024 junior-lien sewer revenue refunding bonds. The outlook, where applicable, is stable. Depending on market conditions, the bond proceeds will refund certain bonds outstanding and, depending on the results of the county tender offer, to purchase additional bonds outstanding payable from sewer system revenue. The series 2024B bonds are secured by a senior lien on the net revenues of the sewer system. A rate covenant requires the...
