Seattle GO Improvement And Refunding Bonds Assigned 'AAA' Rating

SAN FRANCISCO (S&P Global Ratings) April 25, 2017--S&P Global Ratings assigned its 'AAA' long-term rating to Seattle's series 2017A limited-tax general obligation (GO) improvement and refunding bonds, 2017B taxable limited-tax GO improvement bonds, and 2017 unlimited-tax GO refunding bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the city's previously issued GO bonds and GO-equivalent obligations. The outlook is stable. Proceeds of the series 2017A and 2017B will pay for various capital projects, including a downtown seawall, fire facilities, and information technology. Proceeds of the series 2017 will refund unlimited-tax GO debt outstanding to achieve interest expense savings, including $4.7 million International District Preservation and Development Authority debt for which the city has contingent exposure;

...SAN FRANCISCO (S&P Global Ratings) April 25, 2017--S&P Global Ratings assigned its '###' long-term rating to Seattle's series 2017A limited-tax general obligation (GO) improvement and refunding bonds, 2017B taxable limited-tax GO improvement bonds, and 2017 unlimited-tax GO refunding bonds. At the same time, S&P Global Ratings affirmed its '###' long-term rating on the city's previously issued GO bonds and GO-equivalent obligations. The outlook is stable. Proceeds of the series 2017A and 2017B will pay for various capital projects, including a downtown seawall, fire facilities, and information technology. Proceeds of the series 2017 will refund unlimited-tax GO debt outstanding to achieve interest expense savings, including $4.7 million International District Preservation and Development Authority debt for which the city has contingent exposure; hereafter the authority will pay the city for the authority's share of the series 2017 debt service. "The ratings reflect our view of such factors...

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