King County, Washington; CP; Water/Sewer Jul 10
Standard & Poors, July 2010
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' rating to King County, Wash.'s $336.035 million sewer revenue and refunding bonds ("parity bonds," which is the senior lien), series 2010. At the same time, Standard & Poor's affirmed its 'AA+' 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 ratings reflect our view of: County council's demonstrated ability and willingness to incrementally and regularly increase rates and connection charges; The county's advantageous competitive position in its role as the sole regional...
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
- King Cnty
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