S&P Global Ratings revised its outlook to stable from negative on King County, Wash's outstanding debt. The revision back to stable reflects an improvement in our view of the county's flexibility to very strong from strong, driven largely by better-than-budgeted results for fiscal 2016; to a lesser extent, the outlook revision also reflects our view of the continued strength of the King County economy and positive performance budgeted for the fiscal 2017-2018 biennium. At the same time, S&P Global Ratings affirmed its: 'AAA' long-term rating and underlying rating (SPUR) on King County's existing GO bonds; 'AAA' long-term rating on King County Housing Authority's (KCHA) existing bonds, which are backed by a contingent loan agreement with the county; 'AAA' long-term rating
