Summary: Lynnwood Public Facilities District, Washington; Appropriations; General Obligation

Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Lynnwood Public Facilities District, Wash.'s series 2015 convention center sales tax refunding bonds and series 2015 convention center revenue refunding bonds, both of which have received contingent general obligation (GO)-equivalent credit support from Lynnwood. In addition, Standard&Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the district's outstanding obligations that have received the contingent GO-equivalent backing of the city and its 'AA+' long-term rating and SPUR on the city's previously issued GO bonds. The outlook is stable. The district's series 2015 and 2004B sales tax refunding bonds are payable from certain district sales tax revenue and auxiliary facilities revenue, the latter of which primarily consists

...Standard & Poor's Ratings Services assigned its '##+' long-term rating to Lynnwood Public Facilities District, Wash.'s series 2015 convention center sales tax refunding bonds and series 2015 convention center revenue refunding bonds, both of which have received contingent general obligation (GO)-equivalent credit support from Lynnwood. In addition, Standard & Poor's affirmed its '##+' long-term rating and underlying rating (SPUR) on the district's outstanding obligations that have received the contingent GO-equivalent backing of the city and its '##+' long-term rating and SPUR on the city's previously issued GO bonds. The outlook is stable. The district's series 2015 and 2004B sales tax refunding bonds are payable from certain district sales tax revenue and auxiliary facilities revenue, the latter of which primarily consists of lease revenue from commercial property owned by the district. The district's series 2015 and 2005 revenue bonds are payable from the net operating revenue of the...

Summary