...August 10, 2021 CENTENNIAL (S&P Global Ratings) Aug. 10, 2021--S&P Global Ratings assigned its '##' 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 '##' rating on Tacoma's electric system revenue bonds outstanding. The outlook is stable. "The rating reflects Tacoma's ability to maintain healthy coverage and liquidity through various hydrological and economic conditions," said S&P Global Ratings credit analyst Doug Snider. The utility will use bond proceeds to pay down a $145 million draw on its note purchase agreement with Wells Fargo. Tacoma predominantly sources its power through non-carbon-emitting hydroelectric resources, which limits the utility's exposure to the costs and operational challenges...
