CHICAGO (S&P Global Ratings) Dec. 16, 2019--S&P Global Ratings raised the long-term rating component on Washington State Housing Finance Commission's series 2009 variable-rate demand multifamily housing refunding revenue bonds, issued for Lake City Senior Housing Associates L.P.'s Lake City senior apartments project, one notch to 'AAA/A-1+' from 'AA+/A-1+'. The outlook is stable. The rating action reflects S&P Global Ratings' view of the planned bond defeasance through the deposit of cash into an escrow fund on Dec. 16, 2019, and the application of S&P Global Ratings' escrow criteria, titled "Methodology And Assumptions: Assigning Ratings To Bonds In The U.S. Based On Escrowed Collateral," published Nov. 30, 2012, on RatingsDirect. "The rating is at the highest possible rating," said S&P Global Ratings
