S&P Global Ratings raised to 'AA+' from 'AA' its long-term rating to Tacoma, Wash.'s solid waste revenue bonds. The outlook is stable. The upgrade reflects management's conservative financial policies and well-embedded long-term planning practices that have enabled the solid waste system to generate consistent exceptionally strong financial metrics. The bonds are secured by the net revenue of the utility's solid waste system, which includes all tipping fees, charges, and amounts paid under any contract. We view the bond provisions as credit neutral. As of Dec. 31, 2023, the utility had $54.9 million in long-term debt outstanding. Based on the system's conservative financial practices, we believe the utility will have the capacity to continue making rate and other budgetary adjustments to
