NY -- Standard&Poor's CreditWire 10/14/98 – Standard&Poor's today affirmed its single-'A'-plus rating on Tacoma, Wash.'s water revenue bonds series 1993. The outlook is positive. The bonds are secured by net revenues of the water system. The rating reflects: -- Strong system financial performance, -- Low water rates, and -- Reduced operational and financial risk associated with a proposed second supply water project. The rating also reflects the fact that the proposal has not yet been finalized. The utility has been working closely with neighboring utilities to develop a second surface water source. Final agreement had originally been expected by December 1997 or early in 1998. Although the utilities appear to be close to agreement, they have
