Summary: Tacoma, Washington; General Obligation

S&P Global Ratings raised its long-term rating to 'AA+' from 'AA' on the City of Tacoma, Wash.'s previously issued limited tax general obligation (LTGO) bonds. At the same time, S&P Global Ratings assigned its 'AA+' long-term rating to the city's proposed $27.6 million series 2023 LTGO refunding bonds. The outlook is stable. The rating action reflects our view that the city will continue its record of strong financial performance, which has significantly improved its available fund balances in preparation for possible adverse economic conditions in fiscal 2023, while sustaining economic growth and strengthening its formal management policies and practices. The city's LTGO bonds, all of which are limited tax, are full faith and credit obligations, including a direct pledge of

...Most recent Historical information 2021 2020 2019 Very strong economy Projected per capita EBI % of U.S. 103 Market value per capita ($) 195,477 Population 219,785 216,887 County unemployment rate(%) 6.1 Market value ($000) 43,161,358 32,426,115 Ten largest taxpayers % of taxable value 4.1 Strong budgetary performance Operating fund result % of expenditures 5.2 7.1 (1.5) Total governmental fund result % of expenditures (0.3) (7.8) (9.2) Very strong budgetary flexibility Available reserves % of operating expenditures 45.0 39.4 27.3 Total available reserves ($000) 102,475 87,819 72,107 Very strong liquidity Total government cash % of governmental fund expenditures 242 226 196 Total government cash % of governmental fund debt service 2558 3726 2348 Very strong management Financial Management Assessment Strong Strong debt & long-term liabilities Debt service % of governmental fund expenditures 9.4 6.1 8.4 Net direct debt % of governmental fund revenue 44 Overall net debt % of market value 2.8...

Summary