Standard&Poor's Ratings Services assigned its 'AAA' rating to the City of Seattle, Wash.'s series 2010A limited-tax general obligation (LTGO) bonds and 2010B LTGO and refunding bonds. In addition, Standard&Poor's affirmed its 'AAA' rating on the city's GO bonds. We understand that the series A bonds will be designated direct-payment taxable Build America Bonds (BABs). The outlook is stable. The ratings reflect our view of the city's: Very deep and dynamic local and regional economy, with above-average income and wealth indicators; Very large and diverse property tax base; Exceptionally strong financial management, balanced budget, and adequate reserve policies, despite a general fund balance decrease of about $81 million in fiscal 2009 that the city balanced in part
