...September 8, 2022 NEW YORK (S&P Global Ratings) Sept. 8, 2022--S&P Global Ratings assigned its '##+' rating to the Tennessee Valley Authority's (TVA) proposed $500 million global power bonds 2022 series A. At the same time, S&P Global Ratings affirmed its '##+' rating on approximately $19 billion of the utility's power bond debt obligations; and its '##+' issuer credit rating on the authority, reflecting the application of its government-related entity (GRE) criteria. S&P Global Ratings also affirmed its '##-' rating on the $1 billion of TVA's lease transactions the authority records on its balance sheet as variable interest entities (VIE). TVA supports the VIE debt issued by conduit issuers. The outlook is stable. The '##+' rating on debt issued in the authority's name is above the '##-' stand-alone credit profile (SACP), reflecting the application of the GRE criteria and our opinion that there is an extremely high likelihood that the U.S. government will provide timely extraordinary support...
