Summary: King County, Washington; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to King County, Wash.'s expected $240.6 million series 2021A limited-tax general obligation (GO) and refunding bonds and expected $94.7 million series 2021B taxable limited-tax GO and refunding bonds (all of which are payable from sewer revenue). The outlook is stable. The county will have about $4.6 billion in direct debt outstanding at the end of 2021 excluding planned-but-unissued debt, and after our adjustments for revenue-supported debt and GO debt we consider self-supporting we calculate the county's net direct governmental debt at $1.2 billion. Proceeds of the series 2021A will fund acquisitions and improvements to the county's sewer enterprise and will refund state loans that funded improvements to the enterprise. Proceeds of the

...S&P Global Ratings assigned its '###' long-term rating to King County, Wash.'s expected $240.6 million series 2021A limited-tax general obligation (GO) and refunding bonds and expected $94.7 million series 2021B taxable limited-tax GO and refunding bonds (all of which are payable from sewer revenue). The outlook is stable. The county will have about $4.6 billion in direct debt outstanding at the end of 2021 excluding planned-but-unissued debt, and after our adjustments for revenue-supported debt and GO debt we consider self-supporting we calculate the county's net direct governmental debt at $1.2 billion. Proceeds of the series 2021A will fund acquisitions and improvements to the county's sewer enterprise and will refund state loans that funded improvements to the enterprise. Proceeds of the 2021B will refund for interest expense savings previously issued GO bonds that funded fund improvements to the enterprise. The series 2021A and series 2021B are full faith and credit obligations of...

Summary