S&P rates TVA bonds AA+

S&P said it assigned its AA+ rating to Tennessee Valley Authority’s (TVA) proposed $1 billion 2018 series A global power bonds.

At the same time, the agency affirmed its AA+ ratings on the roughly $21.2 billion of power bond debt obligations and its AA+ issuer credit rating on the authority, reflecting the application of its government-related entity criteria.

The outlook is stable.

S&P said the ratings above the aa- stand-alone credit profile for the debt in the authority's name reflect the application of the GRE criteria and an opinion that there is an extremely high likelihood that the U.S. government will provide timely extraordinary support to TVA debt in the event of financial distress.

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