Summary: King County, Washington; Appropriations; General Obligation; General Obligation Equivalent Security Oct 11
- Language: English
- Published: October 2011
- Region: Washington
The 'AA+' rating on King County, Wash.'s GO bonds reflects: A broad and deep economic base that is beginning to show indications of recovery following a protracted period of flat performance; A very large and growing tax base with strong income measures; Sound financial management despite limited capacity to raise revenues; and Moderate but affordable debt levels. The bonds are secured by the county's limited ad valorem property tax pledge. An offsetting credit concern is the pressure that Initiative 747 (I-747) continues to place on county finances. In 2001, Washington voters approved I-747, which limits the growth of tax revenues to 101% of the previous year's revenues, plus new construction. In response to the loss of tax revenues, the county...
Companies mentioned in this report are:
- King Cnty
Action: New Rating
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- King Cnty