SAN FRANCISCO (Standard&Poor's) July 22, 2014--Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Portland, Ore.'s approximately $100 million series 2014A first-lien sewer system revenue refunding bonds. Standard&Poor's also assigned its 'AA-' long-term rating to the city's nearly $200 million series 2014B second-lien sewer system revenue bonds. Finally, Standard&Poor's affirmed both its 'AA' long-term and underlying rating (SPUR) on the city's outstanding first-lien sewer system revenue bonds and its 'AA-' long-term rating and SPUR on the city's outstanding second-lien sewer system revenue bonds. The outlook is stable. "The ratings are supported by our view of the system's broad service area, very diverse customer base, and history of annually raising rates to support
