NY -- Standard&Poor's CreditWire 12/1/1998 – Standard&Poor's today assigned its triple-'B' rating to Philadelphia, Pa.'s $180 million GO refunding bonds series 1998 dated Nov. 15, 1998 due May 15, 2000-2020. The bonds are scheduled to sell Dec. 10, 1998. In addition, Standard&Poor's affirmed its triple-'B' rating on the city's $639.5 million outstanding GO bonds. The rating reflects: -- A trend of sound financial operations, producing six consecutive years of balanced operations; -- Demonstrated trends in budgeting and long-term financial planing; and -- The presence of the Pennsylvania Intergovernmental Cooperation Authority, the fiscal oversight authority. These factors are constrained by the following: -- Below-average economic trends, -- A tax base that has been slow to
