South Correctional Entity Facility Public Development Authority, WA Series 2009A and 2009B Bond Ratings Raised To 'AA+' - S&P Global Ratings’ Credit Research

South Correctional Entity Facility Public Development Authority, WA Series 2009A and 2009B Bond Ratings Raised To 'AA+'

South Correctional Entity Facility Public Development Authority, WA Series 2009A and 2009B Bond Ratings Raised To 'AA+' - S&P Global Ratings’ Credit Research
South Correctional Entity Facility Public Development Authority, WA Series 2009A and 2009B Bond Ratings Raised To 'AA+'
Published Oct 30, 2019
2 pages (1118 words) — Published Oct 30, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

SAN FRANCISCO (S&P Global Ratings) Oct. 30, 2019--S&P Global Ratings corrected by raising its long-term rating to 'AA+' from 'AA' on the South Correctional Entity Facility Public Development Authority, Wash.'s series 2009A and 2009B bonds. The outlook is stable. S&P Global Ratings should have raised the ratings on these bonds to 'AA+' when it raised the Tukwila, Wash., limited-tax GO rating to 'AA+' from 'AA' on Oct. 1, 2019. We analyze these bonds using a weakest link approach. In this case, six owner cities that individually pledge to make their allocated portion of debt service payments for the bonds and Tukwila had the weakest credit profile of the six owner cities. As such, it was an analytic error not to

  
Report Type:

Ratings Action

Issuer
South Correctional Entity Fac Pub Dev Auth
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "South Correctional Entity Facility Public Development Authority, WA Series 2009A and 2009B Bond Ratings Raised To 'AA+'" Oct 30, 2019. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/South-Correctional-Entity-Facility-Public-Development-Authority-WA-Series-2009A-and-2009B-Bond-Ratings-Raised-To-AA-2330058>
  
APA:
S&P Global Ratings’ Credit Research. (). South Correctional Entity Facility Public Development Authority, WA Series 2009A and 2009B Bond Ratings Raised To 'AA+' Oct 30, 2019. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/South-Correctional-Entity-Facility-Public-Development-Authority-WA-Series-2009A-and-2009B-Bond-Ratings-Raised-To-AA-2330058>
  
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