...June 28, 2023 ENGLEWOOD (S&P Global Ratings) June 28, 2023--S&P Global Ratings assigned its '##' rating to Seattle's $274.98 million municipal light and power improvement and refunding revenue bonds, series 2023A. At the same time, S&P Global Ratings affirmed its '##' long-term rating and underlying rating (SPUR) on Seattle's electric system revenue bonds outstanding. The utility does business as Seattle City Light (SCL). The outlook is stable. "The '##' rating reflects SCL's ability to sustain robust coverage and liquidity through various hydrological and economic conditions," said S&P Global Ratings credit analyst Doug Snider. The stable outlook reflects S&P Global Ratings' expectation that SCL will maintain solid liquidity levels through rate-stabilization policies and continued conservative revenue forecasting. The outlook further reflects our view that average fixed charge coverage (FCC) will at least approximate projected levels due to forecast rate increases. We could lower the rating...
