...S&P Global Ratings assigned its '##+' long-term to King County, Wash.'s, $124.45 million parity-lien sewer revenue bonds, series 2018. At the same time, S&P Global Ratings affirmed its: + '##+' long-term rating and underlying rating (SPUR) on the county's $2.24 billion of existing parity-lien sewer revenue bonds, + '##+' long-term component of our '##+/A-1' dual rating on the county's $100 million series 2001AB junior-lien variable-rate demand sewer revenue bonds. The outlook, where applicable, is stable. Our view of the sewer system's overall credit characteristics reflect: + Its role as the primary regional provider of wastewater treatment services within the broad and diverse Seattle-Tacoma-Bellevue metropolitan statistical area economy; + The county council's demonstrated ability and willingness to incrementally and regularly increase sewer rates and connection charges, resulting in financial stability in recent years even as the county funded and completed a multibillion-dollar capital...
