Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to King County, Wash.'s $43.67 million sewer revenue and refunding bonds, series 2012C, which are "parity," or senior, obligations of the county's sewer system. At the same time, Standard&Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the county's previously issued parity bonds, its 'AA-' SPUR on the county's previously issued "parity-lien" bonds (which are junior-lien obligations), and its 'A-1+' short-term rating on the county's previously issued commercial paper (CP), which is secured by a lien subordinate to the county sewer system's parity-lien obligations. We also affirmed our 'AAA/A-1+' rating on the county's previously issued series 2001A and 2001B1 variable-rate bonds, reflecting the application of our
