S&P Global Ratings assigned its 'AAA' long-term rating to King County, Wash's limited-tax general obligation (LTGO) series 2017 refunding bonds (payable from sewer revenues). The outlook is stable. At the same time, S&P Global Ratings affirmed its: 'AAA' long-term rating and underlying rating (SPUR) on King County's existing general obligation (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 on certain county GO bonds that are also backed by a first-lien pledge of sales tax revenues; and 'AAA/A-1+' rating on certain county GO debt that is also backed by a second lien on sewer revenues, with the short-term rating based on the
