...February 11, 2025 NEW YORK (S&P Global Ratings) Feb. 11, 2025--S&P Global Ratings assigned its '##+' long-term rating to the Tennessee Valley Authority's (TVA) proposed $1.25 billion global power bonds, series 2025A, due Feb. 1, 2055. At the same time, S&P Global Ratings affirmed its '##+' long-term rating on approximately $20.2 billion of TVA's power bond debt obligations and its '##+' issuer credit rating on the authority, reflecting the application of its "Rating Government-Related Entities: Methodology And Assumptions" (GRE) criteria, published March 25, 2015. S&P Global Ratings also affirmed its '##-' long-term rating on the $1.76 billion of TVA's existing 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, reflecting the application of the GRE criteria and our...
