S&P Global Ratings has raised its long-term rating and underlying rating (SPUR) on Tacoma, Wash.'s existing sales tax and parking revenue refunding bonds to 'A+' from 'A'. The outlook is stable. The upgrade reflects a continued trend of strong demand for the system's parking assets, diverse pledge of revenues, and a history of strong debt service coverage (DSC). The ratings reflect our view of the following positive factors: The city's diverse pledge of revenues, including some sales and use taxes and the Tacoma parking system's net revenues, which consist of revenue from 4,270 parking spaces and parking violation fines; The city manager's flexibility to adjust rates based on a market-based methodology without additional approval from the city council; and Strong
