Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to King County, Wash.'s $146.85 million sewer revenue and refunding bonds (parity bonds, senior lien), series 2012. At the same time, Standard&Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the county's previously issued parity bonds (senior lien), its 'AA-' SPUR on the county's previous issued junior-lien bonds, and its 'A-1+' short-term rating on the county's previously issued commercial paper (CP), which is secured by a lien subordinate to the county sewer system's junior-lien obligations. We also affirmed our 'AAA/A-1+' rating on the county's previously issued series 2001A and 2001B1 variable-rate bonds, reflecting the application of joint criteria. The outlook on all ratings, where applicable, is
