...March 27, 2023 NEW YORK (S&P Global Ratings) March 27, 2023--S&P Global Ratings assigned its '##+' rating to the Tennessee Valley Authority's (TVA) proposed $1 billion global power bonds 2023 series A. At the same time, S&P Global Ratings affirmed its '##+' rating on approximately $18 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 our GRE criteria and our opinion that there is an extremely high likelihood that the U.S. government will provide timely extraordinary support...
