Standard & Poor's Ratings Services affirmed its 'AAA' rating on King County, Wash.'s approximately $1.91 billion outstanding GO bonds. The 'AAA' rating reflects the county's exceptional financial management through the spectrum of economic climates. Being confronted with revenue growth constraints, the county engages in sophisticated and conservative revenue planning that results in very accurate actual-to-budgeted performance. On the expense side, the county has effectively controlled cost growth rates and continues to actively pursue expense reductions in stubborn cost areas such as employee health care. At this time, the county has balanced its budget while continuing to address out-year projections of budget stress. It is also incrementally increasing its reserve levels in recognition of the need for financial cushion in an...
Companies mentioned in this report are:
- King Cnty
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