S&P Global Ratings assigned its 'AA+' long-term rating to the Tennessee Valley Authority 's (TVA) proposed $1.5 billion series 2025B global power bonds. The outlook is stable. The ratings reflect the application of our " Rating Government-Related Entities: Methodology And Assumptions " (GRE) criteria, published March 25, 2015. NEW YORK (S&P Global Ratings) May 14, 2025--S&P Global Ratings today took the ratings actions listed above. By sharply cutting coal's contribution to electricity production to 13% in recent years, TVA has greatly reduced its environmental exposures. This shift reflects the shuttering of coal plants and adding owned and contracted gas-fired and renewable generation capacity, with contributions diluting those of coal-fired plants. Nevertheless, natural gas's contribution to generation has increased in recent
