Summary: King County, Washington; Water/Sewer

Standard&Poor's Ratings Services has assigned its 'SP-1+' short-term rating to the King County, Wash. junior lien sewer revenue bonds, series 2015A and B. For more information on the county's long-term ratings, see the report published Oct. 19, 2015, on RatingsDirect. The short-term rating is based on our application of the criteria "Bond Anticipation Note Rating Methodology," published on Aug. 31, 2011, and reflects our opinion of the net revenue pledge securing the bonds and the county's projected strong internal resources available to repay the bonds, if needed. While the 2015A and B bonds have a nominal final maturity of Jan. 1, 2046, they are subject to a mandatory tender within 13 months of the issuance. The bonds will

...Standard & Poor's Ratings Services has assigned its 'SP-1+' short-term rating to the King County, Wash. junior lien sewer revenue bonds, series 2015A and B. For more information on the county's long-term ratings, see the report published Oct. 19, 2015, on RatingsDirect. The short-term rating is based on our application of the criteria "Bond Anticipation Note Rating Methodology," published on Aug. 31, 2011, and reflects our opinion of the net revenue pledge securing the bonds and the county's projected strong internal resources available to repay the bonds, if needed. While the 2015A and B bonds have a nominal final maturity of Jan. 1, 2046, they are subject to a mandatory tender within 13 months of the issuance. The bonds will be issued on Nov. 16, 2015, in a term rate mode with an initial fixed-term interest period of one year. The series 2015A and B bonds are being issued to provide funds to purchase and retire $100 million of subordinate lien commercial paper (CP) notes in advance of...

Summary