Lacey, WA GO Rating Raised To 'AAA' On General Fund Balance


SAN FRANCISCO (S&P Global Ratings) March 12, 2019--S&P Global Ratings raised 
its long-term rating to 'AAA' from 'AA+' on Lacey, Wash.'s previously issued 
limited-tax general obligation bonds. The outlook is stable. 

"The rating action reflects our view of the city's maintenance of a large 
available general fund balance inclusive of our adjustments and our view that 
the balance may be at a peak but is likely to remain above 75% of expenditures 
for the foreseeable future," said S&P Global Ratings credit analyst Chris 
Morgan.

The stable outlook reflects our view that the city's economic performance is 
likely to lead to continued very strong budgetary performance and further 
improvement in economic indicators.
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