...May 23, 2023 SAN FRANCISCO (S&P Global Ratings) May 23, 2023--S&P Global Ratings assigned its '###' long-term rating to Seattle, Wash.'s anticipated $93.94 million series 2023A limited-tax general obligation (GO) improvement and refunding bonds and the anticipated $35.455 million series 2023 unlimited-tax GO refunding bonds. At the same time, S&P Global Ratings affirmed its '###' long-term rating on the city's previously issued unlimited-tax and limited-tax GO bonds. The outlook is stable. "The ratings reflect our assessment of the city's very strong economic profile, management, and debt and contingent liability profile, as well as its strong budgetary performance in 2021 and 2022," said S&P Global Ratings credit analyst Li Yang. Certain macroeconomic weaknesses could challenge the city's budgetary performance in the longer term, such as historically high inflation resulting in expenditure outpacing revenue growth. However, the city's very strong management practices and policies, coupled...
