...June 2, 2023 SAN FRANCISCO (S&P Global Ratings) June 2, 2023--S&P Global Ratings raised its long-term rating to '##+' from '##' on the City of Tacoma, Wash.'s previously issued limited tax general obligation (LTGO) bonds. At the same time, S&P Global Ratings assigned its '##+' long-term rating to the city's proposed $27.6 million series 2023 LTGO refunding bonds. The outlook is stable. "The rating action reflects our view that the city will continue its record of strong financial performance, which has significantly improved its available fund balances in preparation for possible adverse economic conditions in fiscal 2023, while sustaining economic growth and strengthening its formal management policies and practices," said S&P Global Ratings credit analyst Cenisa Gutierrez. The stable outlook reflects our view that the city's financial profile will remain at least strong and our anticipation that the city's tax base growth will promote revenue growth in some form. We could lower the rating...
