...June 24, 2024 ENGLEWOOD (S&P Global Ratings) June 24, 2024--S&P Global Ratings assigned its '##' rating to Seattle's $202.5 million municipal light and power improvement and refunding revenue bonds, 2024. 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 liquidity and fixed-charge coverage (FCC) in line with projected levels through rate-stabilization policies, rate increases, and continued conservative revenue forecasting. We could lower the rating if rising debt service requirements, sustained adverse hydrological conditions, increasing...
