Originally published Friday, November 20, 2009 at 12:16 AM
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King County bonds get highest rating
Two credit-rating agencies have given King County bonds their highest ranking, AAA, despite the county's budget challenges.
Two credit-rating agencies have given King County bonds their highest ranking, AAA, despite the county's budget challenges.
Standard & Poor's on Thursday praised the county's "realistic revenue projections, a willingness to make politically difficult service reductions and creative efforts to realign programmatic responsibilities with funding sources."
Fitch Ratings said the county enjoys "strong management practices," including a policy of maintaining a general-fund balance at least 6 percent of estimated annual revenues.
A third agency, Moody's, has indicated it will renew King County's AAA rating by today, County Executive Kurt Triplett's office reported.
"The incoming executive is inheriting a government on sound financial footing," Triplett said in a statement.
Metropolitan King County Council Chairman Dow Constantine will be sworn in as executive Tuesday, one day after the council adopts the 2010 budget.
Times staff and news services
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