Summary: Kitsap County, Washington; General Obligation Oct 11
- ID: 1931031
- October 2011
- Region: Washington
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Kitsap County, Wash.'s series 2011 limited-tax general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'AA-' long-term and underlying rating (SPUR) on the county's existing GO debt, issued by both the county and the Kitsap County Consolidated Housing Authority. The outlook on all ratings is stable. The authority's bonds are secured by an agreement with Kitsap County, whereby the county agrees to loan funds to the authority, if necessary, to pay the debt service. As such, we rate the authority's bonds on parity with those of the county. In our opinion, credit strengths include the county's: Participation in the Seattle regional economy; Strong wealth...
Companies mentioned in this report are:
- Kitsap Cnty
- Kitsap Cnty Cons Hsg Auth
Action: New Rating
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >