King County bonds, credit receive high marks
January 25, 2012
By Staff
Moody’s Investors Service reaffirmed King County’s high bond ratings and restored the outlook for county bonds to stable Dec. 7.
The high credit rating allows the county to borrow money for projects at a lower cost to taxpayers.
“We can be proud of today’s decision by Moody’s, because it recognizes our prudent management to create efficiencies, set aside savings and partner with our employees to reduce costs,” County Executive Dow Constantine said in a statement.
In addition, Standard & Poor’s, another credit rating agency, and Fitch Ratings, reaffirmed high marks for the county.
Moody’s assigned negative outlooks to King County and other governments Aug. 4, following the Aug. 2 confirmation of the U.S. government’s AAA sovereign rating and assignment of a negative outlook. The ratings and outlooks issued by the various credit agencies came before the county’s planned $20 million bond sale to purchase 250 acres of Maury Island shoreline.
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