S&P Global Ratings has assigned its 'AA' long-term rating to Seattle, Wash.'s series 2016 solid waste system improvement and refunding bonds. In addition, we affirmed our 'AA' long-term rating on the city's outstanding solid waste revenue bonds. The outlook is stable. The rating is based on our view of the solid-waste system's strong enterprise risk profile assessment, reflected by its: Stable customer base that lies at the economic center of the Puget Sound region; Low industry risk assessment; Relatively low competition, with residential customers required to have solid-waste accounts with the city; Monthly rates that we consider affordable; Strong revenue collection mechanism where monthly fees appear on the water and sewer bill; Regular rate increases in recent years, which the
