S&P Global Ratings assigned its 'AA' rating to Tacoma, Wash.'s approximately $115 million electric system revenue bonds, series 2021 (green bonds). The bonds have been verified by a third-party provider as green bonds based on the climate adaption and/or mitigation benefits of the projects financed and refinanced by the 2021 bonds. At the same time, S&P Global Ratings affirmed its 'AA' rating on Tacoma's electric system revenue bonds outstanding. The outlook is stable. Tacoma pledges the electric system's net revenue to the bonds. The utility will use bond proceeds to pay down a $145 million draw on its note purchase agreement with Wells Fargo. The rating reflects Tacoma's ability to maintain healthy coverage and liquidity through various hydrological and economic
