Bangkok--15 Jun--Standard & Poor's
Standard & Poor's Ratings Services withdrew its 'AA-' underlying ratings (SPURs) on King County, Wash.'s $50 million junior-lien variable demand sewer revenue bonds series 2001A and $50 million junior-lien variable demand sewer revenue bonds series 2001B following our assessment that the county is not eligible for joint support criteria due to structural considerations. According to our current criteria, we assign SPURs only when the bonds are eligible for joint support criteria. (See "S&P Addresses Application Of SPURs On LOC-Backed Bond Issues" published Oct. 13, 2008, and "Joint-Support Criteria Update" published April 22, 2009, on RatingsDirect.)
Complete ratings information is available to RatingsDirect subscribers at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com; select your preferred country or region, then Ratings in the left navigation bar, followed by Find a Rating.
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