NEW YORK (Standard&Poor's) Nov. 2, 2001--Standard&Poor's today assigned its single-'A'-minus rating to Philadelphia, Pa.'s $500 million water and sewer revenue bonds series 2001A and 2001B. The bonds are scheduled to sell Nov. 6, 2001. In addition, Standard&Poor's raised its long-term rating and underlying rating (SPUR) on the city's outstanding water and sewer revenue bonds to single-'A'-minus from triple-'B'-plus. The outlook is stable. The rating reflects: -- Stable financial performance, which will be bolstered by a new multiyear rate plan; -- Sound debt service coverage of senior revenue debt managed to the 1.2 times (x) level following deposits to the capital and rate-stabilization accounts; and -- A seasoned management team, which emphasizes and is achieving
