NY -- Standard&Poor's CreditWire 6/20/97 -- Standard&Poor's today has assigned its `SP-1'-plus rating to Philadelphia, Pa.'s $300 million TRANs series 1997-1998, which are scheduled to sell June 30, 1997. The rating reflects stable liquidity and very strong debt service coverage by net ending general fund cash balances on the debt service and maturity dates. The TRANs are secured by fiscal 1998 general fund receipts. The note repayment fund will be held by the trustee (PNC Bank) and invested in U.S. Treasury obligations or repurchase agreements. The city is required to segregate and deposit principal of $150 million on May 1, 1998 and June 2, 1998, with interest to be deposited on June 29, 1998. Projected debt
