NEW YORK (Standard&Poor's) May 22, 2008--Standard and Poor's assigned its 'A' rating to Pittsburgh Water and Sewer Authority, Pa.'s revenue bonds, series 2008A and B and 2008D-1 and D-2. In addition, Standard and Poor's assigned its 'A' rating to the authority's series 2008C subordinate revenue bonds. "The A rating reflects the authority's stable customer base, with a significant commercial component; good debt service coverage and liquidity; participation in the Pittsburgh Metropolitan Statistical Area; and adequate capacity to meet future water needs," said Standard&Poor's credit analyst John Sugden-Castillo. Offsetting factors include slightly above-average rates, with additional rate increases needed to fund capital requirements related to a consent order with the EPA for the sewer system (the scope