...December 21, 2020 SAN FRANCISCO (S&P Global Ratings) Dec. 21, 2020--S&P Global Ratings assigned its '##+' long-term rating to King County, Wash.'s $96.8 million Water Infrastructure Financing and Innovation Act (WIFIA) loan, issued for the county's wastewater treatment division's (WTD) Ship Canal Water Quality Project. S&P Global Ratings also affirmed its various ratings the county's debt outstanding, including its: - '##+' long-term rating on the county's parity lien sewer revenue bonds; - '##' long-term rating and underlying rating (SPUR) on the county's junior-lien sewer revenue bonds. The outlook, where applicable, is stable. Loan proceeds will fund up to 49% of the WTD's share of the Ship Canal Water Quality Project, a joint project with the City of Seattle. The 2.7-mile tunnel project is a major component of the WTD's capital expenditures for the next five years and is driven by regulatory mandate through separate consent decrees that the county and Seattle have with the U.S. Environmental...
