Seattle's $57.7 Million GO Improvement And Refunding Bonds Assigned 'AAA' Rating - S&P Global Ratings’ Credit Research

Seattle's $57.7 Million GO Improvement And Refunding Bonds Assigned 'AAA' Rating

Seattle's $57.7 Million GO Improvement And Refunding Bonds Assigned 'AAA' Rating - S&P Global Ratings’ Credit Research
Seattle's $57.7 Million GO Improvement And Refunding Bonds Assigned 'AAA' Rating
Published May 22, 2024
2 pages (1150 words) — Published May 22, 2024
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

SAN FRANCISCO (S&P Global Ratings) May 22, 2024--S&P Global Ratings assigned its 'AAA' long-term rating to the City of Seattle's expected $45.8 million series 2024 limited-tax general obligation (GO) improvement and refunding bonds and $11.9 million series 2024 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 limited-tax and unlimited-tax GO bonds. The outlook is stable. Proceeds of the series 2024 limited-tax GO bonds will pay for a variety of capital projects, the largest of which the city's Fire Station 31. Proceeds of the 2024 limited-tax GO bonds will also refund the city's series 2014 limited-tax GO debt outstanding for interest expense savings estimated at about 4.2% of

  
Brief Excerpt:

...May 22, 2024 SAN FRANCISCO (S&P Global Ratings) May 22, 2024--S&P Global Ratings assigned its '###' long-term rating to the City of Seattle's expected $45.8 million series 2024 limited-tax general obligation (GO) improvement and refunding bonds and $11.9 million series 2024 unlimited-tax GO refunding bonds. At the same time, S&P Global Ratings affirmed its '###' long-term rating on the city's previously issued limited-tax and unlimited-tax GO bonds. The outlook is stable. Proceeds of the series 2024 limited-tax GO bonds will pay for a variety of capital projects, the largest of which the city's Fire Station 31. Proceeds of the 2024 limited-tax GO bonds will also refund the city's series 2014 limited-tax GO debt outstanding for interest expense savings estimated at about 4.2% of refunded principal on a net present value basis. Proceeds of the series 2024 unlimited-tax GO refunding bonds will refund a portion of the city's series 2014 unlimited-tax GO bonds outstanding. "The ratings reflect...

  
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's $57.7 Million GO Improvement And Refunding Bonds Assigned 'AAA' Rating" May 22, 2024. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Seattle-s-57-7-Million-GO-Improvement-And-Refunding-Bonds-Assigned-AAA-Rating-3179421>
  
APA:
S&P Global Ratings’ Credit Research. (). Seattle's $57.7 Million GO Improvement And Refunding Bonds Assigned 'AAA' Rating May 22, 2024. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Seattle-s-57-7-Million-GO-Improvement-And-Refunding-Bonds-Assigned-AAA-Rating-3179421>
  
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.