Summary: King County, Washington; Water/Sewer - S&P Global Ratings’ Credit Research

Summary: King County, Washington; Water/Sewer

Summary: King County, Washington; Water/Sewer - S&P Global Ratings’ Credit Research
Summary: King County, Washington; Water/Sewer
Published Nov 13, 2017
3 pages (1148 words) — Published Nov 13, 2017
Price US$ 225.00  |  Buy this Report Now

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Abstract:

S&P Global Ratings Services assigned its 'AA+' long-term rating to King County, Wash.'s $151.58 million series 2017 sewer revenue refunding bonds, issued for the county's wastewater treatment division (WTD). The outlook is stable. The series 2017 bonds are being issued to refund certain outstanding parity bonds and parity lien obligations for debt service savings. The series 2017 bonds will be secured by a senior (first) lien on WTD's net revenues. The bonds will be additionally secured by the WTD's parity lien reserve fund, which is required to be funded at maximum annual debt service (MADS). A rate covenant requires the WTD to generate debt service coverage on parity bonds (first lien bonds) of at least 1.15x. The county can issue

  
Brief Excerpt:

STANDARD & POOR'S, S&P and RATINGSDIRECT are registered trademarks of Standard & Poor's Financial Services LLC. S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or...

  
Report Type:

Summary

Issuer
King County
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: King County, Washington; Water/Sewer" Nov 13, 2017. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Summary-King-County-Washington-Water-Sewer-1948521>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: King County, Washington; Water/Sewer Nov 13, 2017. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-King-County-Washington-Water-Sewer-1948521>
  
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