S&P Global Ratings assigned its 'AAA' rating to King County, Wash's limited-tax general obligation (LTGO) series 2017A (green bonds), series 2017B, and series 2017C. The outlook is stable. The GO bonds are limited-tax general obligations of the county secured by the county's full faith, credit, and resources, including a pledge to levy ad valorem property tax within statutory limitations. As pledged revenues within the statutory limitations well exceed LTGO debt service requirements and we believe the county possesses sufficient financial stability and flexibility, our rating on the county's LTGO obligations is equal to that on its unlimited-tax obligations. For more information on our view of the county's outstanding GO debt, please see our report published March 31, 2017, on RatingsDirect.
