Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Tacoma, Wash.'s series 2016A and 2016B solid waste revenue refunding bonds. At the same time, Standard&Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the city's existing solid waste utility debt. The outlook is stable. The rating reflects our view of the city's: Substantial and diverse economic base in the Seattle-Tacoma-Bellevue MSA, with improved tonnage trends in the past several years driven by growth from the city's commercial customer class; Median household effective buying income (EBI) that we consider good, which enhances rate affordability and flexibility; Adequate all-in debt service coverage (DSC) on a net basis at 1.3x in fiscal 2015 (unaudited), down from 1.5x
