...March 31, 2022 CENTENNIAL (S&P Global Ratings) March 31, 2022--S&P Global Ratings raised its long-term rating to '##+' from '##' on Tacoma, Wash.'s existing water bonds. We have also raised the underlying rating (SPUR) to '##+' from '##'. At the same time, we raised the long-term rating to '##+' from '##' on the city's outstanding Regional Water Supply System (RWSS) revenue bonds. We have also raised the RWSS' underlying rating (SPUR) to '##+' from '##'. The outlook is stable. "The rating reflects our opinion of the utility's consistently healthy financial performance," said S&P Global Ratings credit analyst Stephanie Linnet. "It further reflects sound all-in debt service coverage and robust cash balances that we believe can be sustained," she added. The utility has $242.3 million in water revenue bond debt outstanding and is responsible for a share of the debt service associated with $99.3 million in RWSS revenue bonds outstanding; this debt is a Contract Resource Obligation (CRO) operating...
