Sept 5, 2008

Newspaper correction: positive outlook on King County bonds

A newspaper article printed on September 5th about King County’s bonds is incorrect. Fitch Ratings this week announced it has “removed rating watch negative” from King County Bonds. By removing the negative watch, Fitch Ratings signaled a positive outlook on King County bonds.

According to the Fitch news release, “Management is excellent, as evidenced by sound fund balance levels, adherence to strong council-adopted financial management policies, and a low debt burden."

The print version of the Seattle Times incorrectly reported that Fitch “might lower” the ratings. The paper has issued a correction in online versions of the article.