...January 4, 2024 ENGLEWOOD (S&P Global Ratings) Jan. 4, 2024--S&P Global Ratings assigned its '##' long-term rating to Tacoma, Wash.'s anticipated $96.7 million series 2024A electric system revenue bonds (green bonds) and $52.0 million series 2024B electric system revenue refunding 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 large service territory, proactive rate-setting practices, and diverse customer base, which together underpin its ability to maintain healthy coverage and liquidity through various hydrological and economic conditions," said S&P Global Ratings credit analyst Doug Snider. These strengths are tempered by the utility's concentration in hydroelectric generation and surplus sales risks in the wholesale power market, which could constrain financial flexibility during periods of prolonged adverse water conditions. The rating is also constrained...
