SAN FRANCISCO (Standard&Poor's) July 21, 2009--Standard&Poor's Ratings Services assigned its 'AA+' rating to King County, Wash.'s $250 million sewer revenue bonds ("parity bonds," which is the senior lien), series 2009. At the same time, Standard&Poor's affirmed its 'AA+' rating and underlying rating (SPUR) on the county's outstanding parity bonds (senior lien) and its 'A-1+' short-term rating on the county's outstanding commercial paper (CP), which is secured by a lien subordinate to the county sewer system's junior-lien obligations. The outlook on all long-term ratings is stable. "The rating is based on county council's willingness to regularly increase rates and connection charges to produce predictable financial results that frequently slightly outperform financial forecasts," said Standard&
