...June 21, 2024 ENGLEWOOD (S&P Global Ratings) June 21, 2024--S&P Global Ratings assigned its '##+' long-term rating to King County, Wash.'s anticipated $300 million 2024 series A sewer revenue and refunding bonds, issued for the county's wastewater treatment division (WTD). The outlook is stable. A portion of the bond proceeds is being issued to provide funds for acquiring and constructing improvements to the county's WTD. In addition, depending on market conditions, the bond proceeds will also refund certain outstanding bonds (potentially the series 2014B bonds) and, depending on the results of the county tender offer, purchase additional outstanding bonds payable from sewer system revenue. "The rating reflects our assessment of the utility's current and projected capacity to perpetuate consistently strong financial metrics, despite its additional debt needs," said S&P Global Ratings credit analyst Malcolm D'Silva. The stable outlook reflects our anticipation that the WTD's strong liquidity...
