S&P Global Ratings affirmed its ?AA-? long-term rating on Nashville&Davidson County Metropolitan Government , Tennessee's electric system revenue debt, issued for Nashville Electric Service (NES). The outlook is stable. The electric system's first-lien net revenue pledge secures the bonds. NES had $729 million in total debt outstanding as of June 30, 2025. The Nashville&Davidson County Metropolitan Government plans to issue $260 million in bonds in 2027 for NES to fund certain capital improvements, and we expect total debt will increase to approximately $976 million by the end of fiscal 2028. The severe weather event referred to as Winter Storm Fern caused historic levels of customer outages (230,000) throughout the NES territory on Jan. 25 and 26,
