S&P Global Ratings has assigned its 'A+' long-term rating to Cowlitz County Fire Protection District No. 2, Wash.'s 2016 unlimited tax general obligation (GO) bonds. The outlook is stable. The rating reflects our opinion of the district's: Established, primarily residential tax base located on the Columbia River, adjacent to the Portland, Ore. metropolitan area; Maintenance of strong reserve levels, on a cash basis, supported by a voter-approved bond levy, which will continue through at least fiscal 2036; and Low debt levels on a market value basis. Partly offsetting these strengths, in our view, is the district's financial reporting on a cash basis of accounting, which we believe provides less transparency on the district's financial position than would be possible using
