CUSIP 940839CE1

  • ISIN: US940839CE14
  • Entity Name: Washoe County
  • Sector: Municipal
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Rating Upgrade
  • News: S&P Global Ratings raised its long-term rating to `AA` from `A+` on Washoe County, Nev.`s outstanding highway revenue fuel tax bonds, issued for the Washoe County Regional Transportation Commission. In addition, S&P Global Ratings assigned its `AA` long-term rating to the county`s series 2018 highway revenue fuel tax refunding bonds. The outlook is stable. The rating action reflects the application of our ""priority-lien"" criteria, published Oct. 22, 2018, on RatingsDirect, which factors in both the strength and stability of the pledged revenues, as well as the general credit quality of the Washoe County Regional Transportation Commission, which we have identified as the obligor. In our view, legal provisions of priority-lien of pledged revenues are less restrictive with respect to revenue collection and distribution, but due to the limited scope of operations and expenditure flexibility of the Commission, we believe revenue is further insulated from major operating risk. In addition, the rating on the highway revenue fuel tax bonds is not currently constrained by the Commission`s creditworthiness.
  • Description: *****
  • Bond Document:
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