State Debt Information

Information related to debt management operations within the Office of the State Treasurer

The Office of the State Treasurer manages Washington's debt activities including debt authorized by the state Legislature for the capital and transportation budgets. Washington state features a diversified economy, healthy reserves, well-funded pensions, and a commitment to keep debt costs low.  Below you will find key information on the state's debt portfolio. Additional information can also be found on the "For Investors" page and OST's "Transparency Portal".

Documents have been provided for informational purposes only and are not provided for the purposes of, and are not suitable for, making investment decisions. Investors are encouraged to obtain the filings of the State at the MSRB's Electronic Municipal Market Access (EMMA) website.

Washington issues debt and incurs other financial obligations through three primary financing programs: Various Purpose (VP) General Obligation (GO) Bonds,  Motor Vehicle Fuel Tax and Vehicle Related Fees (MVFT/VRF) GO Bonds, and Certificates of Participation (COPs). Additionally, the state incurs contingent obligations under the School Bond Guarantee Program.

The State Finance Committee is authorized to supervise and control the issuance of all state debt and other financial obligations authorized by the Legislature. Financing programs, including bond and COP sales, are shepherded by the Office of the State Treasurer.  

Ratings:

General Obligation Bonds
  • Moody’s: Aaa (Outlook Stable)
    • June 18, 2024  (PDF)
  • S&P: AA+ (Outlook Positive)
    • June 17, 2024  (PDF)
  • Fitch: AA+ (Outlook Stable) 
    • June 18, 2024 (PDF)

 

EMMA Info:
Washington GO Bonds

 

GARVEE Bonds
  • S&P: AA (Outlook Stable)
    • June 2, 2022 (PDF)

 

 

 

 

EMMA Info: 
Washington GARVEE Bonds

 

Certificates of Participation
  • Moody’s: Aa1 (Outlook Stable)
    • May 24, 2023 (PDF)

 

 

 

 

EMMA Info:
Washington COPs

 

 

Disclaimer:

The materials/documents on this website are limited in scope, are for informational purposes only, and should not be relied upon to make any investment decision. The documents do not constitute an offer or solicitation to buy or sell the state’s bonds and/or certificates of participation.

Each document listed in this section is dated and speaks only as of that date. The state does not undertake to update, and expressly disclaims any duty to update, any document. The information in the documents are subject to change without notice and the posting of information on this website does not imply that there have been no changes.

The documents may make "forward-looking statements" by using forward-looking words such as “plan,” “expect,” “forecast,” “estimate,” “budget,” “project,” “intends,” “anticipates” and similar words. Any such statements inherently are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, among others, general economic and business conditions, changes in political, social, and economic conditions, regulatory initiatives and compliance with governmental regulations, litigation and various other events, conditions and circumstances, many of which are beyond the control of the state. Any forward-looking statements speak only as of the date they were prepared.

By clicking on the links within, you acknowledge that the documents are limited in scope; are not an offer to sell; are each dated as of a certain date and speaks only as of that date; and have not been updated since that date; and that as a result, the documents may not contain all information material to investors and may contain material misstatements or omissions because of the passage of time or the occurrence of subsequent events.