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Summary: King County, Washington; Appropriations; General Obligation; General Obligation Equivalent Security; Note Feb 11

  • ID: 2034241
  • February 2011
  • Region: Washington
  • Standard & Poors
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  • King Cnty
  • King Cnty Hsg Auth
  • MORE

Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to King County, Wash.'s series 2011A limited-tax general obligation (GO) bond anticipation notes (BANs). We also affirmed our 'AAA' long-term rating and underlying rating (SPUR) on the county's outstanding GO bonds, our 'AA+' SPUR on the county's appropriation obligations, and our 'AAA' long-term rating on the King County Housing Authority bonds backed by a contingency loan agreement from the county. The outlook on the long-term ratings and SPURs is stable. The 'SP-1+' short-term rating on the series 2011A notes reflects our view of the county's: Direct pledge of its full faith, credit, and resources, including an obligation to levy ad valorem property taxes within statutory limitations; Strong fundamental long-term credit...

Companies mentioned in this report are:
- King Cnty
- King Cnty Hsg Auth

Action: Affirmed
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 READ MORE >

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- King Cnty
- King Cnty Hsg Auth

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