...S&P Global Ratings assigned its '##' long-term rating to Lynnwood, Wash.'s series 2018 utility system revenue and refunding bonds. At the same time, we affirmed our '##' long-term rating and underlying rating (SPUR) on the utility system's parity obligations. The outlook is stable. As of Dec. 31, 2017, the city had $34.2 million in outstanding revenue bonds. The rating reflects our view of the system's very strong enterprise and financial risk profiles. Our very strong assessment of the utility system's enterprise risk reflects its: + Growing service area economy that participates in the broad and diverse Seattle metropolitan statistical area (MSA) economy and has good income levels; + Service rates we consider affordable given local incomes and the county poverty rate, coupled with a demonstrated willingness and ability to adjust rates to match system needs; and + Operational management we consider good, including ample water supply and sewage treatment capacity, with a long-term wholesale...
