S&P Global Ratings assigned its 'AA/A-1' dual rating to King County, Wash.'s anticipated $115.6 million series 2024 junior-lien sewer revenue refunding bonds, issued for the county's wastewater treatment division (WTD). S&P Global Ratings also affirmed its 'AA+' long-term rating on the county's existing parity lien sewer revenue bonds, and its 'AA' long-term rating and underlying rating (SPUR) on the county's existing junior-lien sewer revenue bonds. The outlook, where applicable, is stable. The bonds are being issued to refund existing commercial paper associated with refunding the 2012 junior-lien bonds and the 2020A put bonds. The 2024 bonds will be variable-rate demand obligations backed by a standby bond purchase agreement (SBPA) from Bank of America N. A. Given the county's very strong
