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King County, Washington; CP; Water/Sewer Dec 10

Description:
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to King County, Wash.'s $235.36 million sewer revenue and refunding bonds ("parity bonds," the senior lien), series 2011. At the same time, Standard & Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the county's outstanding parity bonds (senior lien), its 'AA-' SPUR on the county's outstanding junior-lien bonds, and its 'A-1+' short-term rating on the county's outstanding commercial paper (CP), which is secured by a lien subordinate to the county sewer system's junior-lien obligations. The outlook on all ratings is stable. The ratings reflect our view of: The county's role as the sole regional provider of wastewater treatment services; The county council's demonstrated ability and willingness to...

Companies mentioned in this report are:
- King Cnty

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis
 
Companies Mentioned
- King Cnty
 
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King County, Washington; CP; Water/Sewer Dec 10

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