Snohomish County Housing Authority, Washington; General Obligation

S&P Global Ratings affirmed its 'A+' issuer credit rating (ICR) on the Housing Authority of Snohomish County (HASCO), Wash. At the same time, we affirmed our 'A+' ICR on the authority's 2019 refunding revenue bonds. The outlook is stable. The ratings on HASCO reflect the authority's stand-alone credit profile (SACP) of 'a+' and our view that there is a moderate likelihood that the U.S. government would provide timely and extraordinary support to HASCO in the event of financial distress. HASCO was established in 1971 to provide affordable housing, enhance quality of life, and build safer and stronger communities. It has helped a significant number of people in its 49-year history. HASCO operates a portfolio of around 40 properties and administers

...S&P Global Ratings affirmed its 'A+' issuer credit rating (ICR) on the Housing Authority of Snohomish County (HASCO), Wash. At the same time, we affirmed our 'A+' ICR on the authority's 2019 refunding revenue bonds. The outlook is stable. The ratings on HASCO reflect the authority's stand-alone credit profile (SACP) of 'a+' and our view that there is a moderate likelihood that the U.S. government would provide timely and extraordinary support to HASCO in the event of financial distress. HASCO was established in 1971 to provide affordable housing, enhance quality of life, and build safer and stronger communities. It has helped a significant number of people in its 49-year history. HASCO operates a portfolio of around 40 properties and administers a variety of housing programs, including the Housing Choice Voucher (HCV) Program for Snohomish County. The authority is the general partner in three partnerships to administer affordable housing with low-income housing tax credits (LIHTCs). Due...

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