Summary: King County, Washington; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to King County, Wash.'s $74 million series 2019 limited-tax general obligation (GO) bonds (payable from sewer revenue). At the same time, S&P Global Ratings affirmed the following ratings: 'AAA' long-term rating and underlying rating (SPUR) on the county's existing general obligation (GO) bonds; 'AAA' long-term rating on certain county GO bonds that are also backed by a second lien on sewer revenue (for more information see our report published June 19, 2019 on RatingsDirect); 'AAA/A-1+' dual rating on the county's multimodal limited-tax general obligation (GO) refunding bonds (also payable from sewer revenue); 'AAA' long-term rating on the King County Housing Authority's existing bonds, which are backed by a contingent loan agreement and

...S&P Global Ratings assigned its '###' long-term rating to King County, Wash.'s $74 million series 2019 limited-tax general obligation (GO) bonds (payable from sewer revenue). At the same time, S&P Global Ratings affirmed the following ratings: + '###' long-term rating and underlying rating (SPUR) on the county's existing general obligation (GO) bonds; + '###' long-term rating on certain county GO bonds that are also backed by a second lien on sewer revenue (for more information see our report published June 19, 2019 on RatingsDirect); + '###/A-1+' dual rating on the county's multimodal limited-tax general obligation (GO) refunding bonds (also payable from sewer revenue); + '###' long-term rating on the King County Housing Authority's existing bonds, which are backed by a contingent loan agreement and credit enhancement agreement with the county; and + '###' long-term rating on certain county lease revenue bonds. The outlook is stable. The county has about $4.8 billion in direct debt outstanding,...

Summary