Standard&Poor's Ratings Services has assigned its 'AA-' 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. The 2010A bonds will be sold as Build America Bonds, while the 2010C bonds will be sold as Recovery Zone Economic Development Bonds. In our opinion, the rating reflects the following strengths: 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
