SAN FRANCISCO (Standard&Poor's) May 6, 2014--Standard&Poor's Ratings Services raised its rating to 'AA' from 'AA-' on Puyallup, Wash.'s outstanding limited-tax general obligation (LTGO) bonds and unlimited-tax general obligation (UTGO) bonds. At the same time, we assigned our 'AA' rating to the city's 2014 LTGO refunding bonds. The outlook is stable. "The rating actions are based on our application of our local GO criteria published Sept. 12, 2013," said Standard&Poor's credit analyst Jen Hansen. The rating reflects our view of the city's: Very strong budgetary flexibility, Very strong liquidity, Strong economy, Strong management, Adequate budgetary performance, and Adequate debt and contingent liability profile. Puyallup's full faith and credit pledge to levy taxes on property, subject
