Fitch Ratings assigned a AA-minus rating to a series of bond issues issued by Tacoma Power.
The rating was applied to $40 million of Series 2010A tax-exempt electric system revenue bonds, $145 million of Series 2010B taxable Build America Bonds, and $24 million of Series 2010C clean renewable energy bonds.
Tacoma Power serves 168,000 customers in Washington State.
Fitch also upgraded $462 million of outstanding city of Tacoma electric system revenue bonds to AA-minus from A-plus.
The outlook is stable.
Analysts said the upgrade reflects Tacoma Power’s improved financial position, which results from multiple years of strong operating margins and funding capital expenditures from current revenues.
