NY -- Standard&Poor's CreditWire 6/17/98 – Standard&Poor's today assigned its single-'A'-minus underlying rating (SPUR) to Puyallup, Wash.'s water and sewer revenue bonds series 1998 dated July 1, 1998 due Nov. 1, 2017. The bonds are scheduled to sell July 1, 1998 and are expected to receive a triple-'A' rating based on bond insurance. The rating reflects good financial performance and a stable and diverse local economy with access to the greater Seattle-Tacoma region. Factors that offset these strengths are high utility rates and a large capital plan with significant future debt needs. Puyallup (G.O. bonds rated single-'A'-plus) is located about seven miles southeast of Tacoma and 20 miles south of Seattle. The city is a suburban-residential
