Standard&Poor's Ratings Services assigned its 'AA' rating to the City of Tacoma, Wash.'s limited tax general obligation (LTGO) refunding bonds, 2015. At the same time, Standard&Poor's affirmed its 'AA' rating on Tacoma's previously issued general obligation (GO) bonds. The outlook is stable. Tacoma's full faith and credit pledge to levy taxes on property, subject to statutory limits on rates and growth, secures the LTGO bonds. The city's full faith and credit pledge and an unlimited ad valorem tax secure the unlimited-tax GO bonds. We understand that bond proceeds will be used to refund certain bonds for interest cost savings. The rating reflects our assessment of the following factors for the city, specifically its: Strong economy, with
