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Pierce County, WA's Series 2012 Sewer Revenue Bonds Rated 'AA' Aug 12 Product Image

Pierce County, WA's Series 2012 Sewer Revenue Bonds Rated 'AA' Aug 12

  • ID: 2201463
  • August 2012
  • Standard & Poors

Abstract
SAN FRANCISCO (Standard & Poor's) Aug. 3, 2012-- Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Pierce County, Wash.'s series 2012 sewer revenue bonds, issued for the county's sewer system. At the same time, Standard & Poor's affirmed its 'AA' underlying rating (SPUR) on the county's outstanding sewer revenue bonds. The outlook is stable. "The sewer system's financial performance has been strong, in our view though annual debt service will increase after this issue and a planned future issue, likely lowering debt service coverage going forward," said Standard & Poor's credit analyst Robert Hannay. The series 2012 bonds are being issued to provide $196 million in capital funding for the county's sewer system, including the system's wastewater...

Companies mentioned in this report are:
- Pierce Cnty

Action: New Rating

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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