Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Tacoma, Wash.'s series 2016A and 2016B sewer revenue and refunding bonds. At the same time, Standard&Poor's affirmed its 'AA+' long-term and underlying rating on the city's sewer system's existing debt. The outlook is stable. The rating reflects our view of the district's very strong enterprise risk and financial risk profiles. The very strong enterprise risk profile includes: Participation by the customer base in the broad and diverse Seattle-Bellevue-Tacoma economy; Good income metrics and relatively low unemployment; Sufficient wastewater treatment capacity, although the five-year capital plan is moderately large; and Comprehensive operational management. The extremely strong financial risk profile includes: Historically strong all-in debt service coverage (DSC) that
