NEW YORK (Standard&Poor's) April 27, 2010--Standard&Poor's Ratings Services has assigned its 'AA-' long-term rating to Seattle, Wash.'s municipal light and power revenue bonds series 2010A ($207.7 million) and 2010C ($13.3 million), and to its improvement and refunding revenue bonds, series 2010B ($590.1 million). At the same time, Standard&Poor's affirmed its 'AA-' underlying rating on the system's (Seattle City Light [SCL]) parity lien debt. The outlook is stable. "In our opinion, the ratings reflect a low-cost hydro-based generation portfolio that can meet demand under most water conditions, including the current low ones; a strong and diverse customer base; good financial management; and competitive retail rates, even after accounting for sizable rate increases in fiscal 2010,"
