SAN FRANCISCO (S&P Global Ratings) Oct. 23, 2019--S&P Global Ratings Services assigned its 'AA+' long-term rating to the South Correctional Entity Facility Public Development Authority, Wash.'s $45.9 million series 2019 refunding bonds. The outlook is stable. "The rating reflects our opinion of a several limited-tax general obligation of six owner cities, which have individually pledged to make their allocated portion of debt service payments, limited-tax general obligation credit profiles of at least 'AA+' among the owner cities, and the owner cities' and authority's obligation to make debt service payments regardless of the operation of the facility," said S&P Global Ratings credit analyst Chris Morgan. Proceeds will pay for the refunding of the authority's series 2009A and 2009B bonds for interest
