Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Portland, Ore.'s nearly $412.06 million series 2010A second lien sewer system revenue bonds. Additionally, Standard&Poor's affirmed its 'AA' long-term and underlying rating (SPUR) on the city's outstanding parity first and second lien sewer system revenue bonds. The ratings reflect our view of the system's: Broad service area, with a population of more than 500,000, and participation in the Portland metropolitan area, which remains a commercial and industrial center for most of the state despite the recessionary impact on several of the area's core sectors; Management's planning standards and reserve policies that underpin the funding and debt management for the Willamette River combined sewer overflow capital program, at
