NY -- Standard&Poor's CreditWire 7/10/97 -- Standard&Poor's today has assigned its double-`A' rating to Philadelphia Authority for Industrial Development, Pa.'s $27.8 million industrial and commercial revenue bonds series 1997, issued for Girard Estate. Standard&Poor's also has affirmed its double-`A' rating on the authority's $19.9 million industrial and commercial revenue bonds series 1996, also issued for Girard Estate. The rating reflects impressive liquidity and debt service coverage, offset by slow unrestricted net asset growth and adequate investment returns. Bond proceeds are a G.O. of Girard Estate and will be used to reimburse the estate for a real estate portfolio acquisition. Component properties are leased to the Commonwealth through the Department of General Services. The Estate
