Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Jefferson County, Wash.'s series 2011 limited-tax general obligation (GO) refunding bonds. In addition, Standard & Poor's affirmed its 'AA-' long-term and underlying rating (SPUR) on the county's previously issued GO bonds. The outlook on all ratings is stable. The ratings reflect our view of the county's: Economic base, which is located near the Seattle region and exhibits high per capita market values; Demonstrated voter willingness to support tax increases to fund county operations; Good financial policies and practices; and Low debt burden, coupled with rapid amortization. Constraining credit quality in our view is the county's: Economic dependence on tourism and retiree housing demand; and Financial reporting on a cash...
Companies mentioned in this report are: Jefferson Cnty
Action: New Rating
Action: Outlook: Stable
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