State of Washington: Fitch New Issue Report

Washington’s ‘AA+’ Issuer Default Rating (IDR) and GO bond rating reflect the state’s broad and steadily growing economy, with solid long-term revenue growth prospects, a demonstrated commitment to fiscal balance and combined long-term liabilities that place a low burden on resources. The ratings also reflect the state’s very strong financial resilience supported by a statutory requirement for a balanced multiyear budget and formulaic funding of the budget stabilization account (BSA) leading to solid reserves. Education poses a unique spending pressure for the state given both steady population growth and the state’s role as the primary funder for K-12 schools across the state.


Fri 20 Jan, 2023

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