Seattle, WA $108 Million Water System Improvement And Refunding Bonds Assigned 'AA+' Rating - S&P Global Ratings’ Credit Research

Seattle, WA $108 Million Water System Improvement And Refunding Bonds Assigned 'AA+' Rating

Seattle, WA $108 Million Water System Improvement And Refunding Bonds Assigned 'AA+' Rating - S&P Global Ratings’ Credit Research
Seattle, WA $108 Million Water System Improvement And Refunding Bonds Assigned 'AA+' Rating
Published Jun 13, 2022
2 pages (1127 words) — Published Jun 13, 2022
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

SAN FRANCISCO (S&P Global Ratings) June 13, 2022--S&P Global Ratings assigned its 'AA+' long-term rating to Seattle, Wash.'s approximately $108 million series 2022 water system improvement and refunding revenue bonds. At the same time, S&P Global Ratings affirmed its 'AA+' rating on the city's existing water system parity debt. The outlook is stable. "The rating reflects our view of Seattle's ample water supply and large customer base," said S&P Global Ratings credit analyst Chloe Weil. "The rating further reflects our opinion of Seattle's financial forecast, which we believe is achievable, given the system's manageable capital needs as well as its proposed rate plan, which assumes relatively modest rate increases through 2026," Ms. Weil added. Proceeds from series 2022 water system improvement

  
Brief Excerpt:

...June 13, 2022 SAN FRANCISCO (S&P Global Ratings) June 13, 2022--S&P Global Ratings assigned its '##+' long-term rating to Seattle, Wash.'s approximately $108 million series 2022 water system improvement and refunding revenue bonds. At the same time, S&P Global Ratings affirmed its '##+' rating on the city's existing water system parity debt. The outlook is stable. "The rating reflects our view of Seattle's ample water supply and large customer base," said S&P Global Ratings credit analyst Chloe Weil. "The rating further reflects our opinion of Seattle's financial forecast, which we believe is achievable, given the system's manageable capital needs as well as its proposed rate plan, which assumes relatively modest rate increases through 2026," Ms. Weil added. Proceeds from series 2022 water system improvement and refunding revenue bonds will be used to fund $68 million of upcoming water system capital needs and refund all or a portion of the series 2012 bonds for debt service savings. The...

  
Report Type:

Ratings Action

Issuer
Seattle
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Seattle, WA $108 Million Water System Improvement And Refunding Bonds Assigned 'AA+' Rating" Jun 13, 2022. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Seattle-WA-108-Million-Water-System-Improvement-And-Refunding-Bonds-Assigned-AA-Rating-2853572>
  
APA:
S&P Global Ratings’ Credit Research. (). Seattle, WA $108 Million Water System Improvement And Refunding Bonds Assigned 'AA+' Rating Jun 13, 2022. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Seattle-WA-108-Million-Water-System-Improvement-And-Refunding-Bonds-Assigned-AA-Rating-2853572>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.