...June 2, 2021 CENTENNIAL (S&P Global Ratings) June 2, 2021--S&P Global Ratings assigned its '##+' long-term rating to Seattle, Wash.'s $25.55 million solid waste system refunding revenue bonds, series 2021. The outlook is stable. The solid waste system is operated by Seattle Public Utilities (SPU), a department of the city. The series 2021 bonds will be issued to refund certain outstanding obligations of the solid waste system. "The rating reflects our view of the underlying economic strength, diversity, and wealth of the customer base in the Seattle-Tacoma-Bellevue metropolitan statistical area, which allow for SPU rate-raising flexibility; robust all-in coverage; and healthy operational and financial management," said S&P Global Ratings credit analyst Alexandra Rozgonyi. The stable outlook reflects our expectation for maintenance of all-in coverage at above 1.6x and very strong liquidity. Planned rate increases, coupled with the system's capital plan, should allow management to produce...
