Standard&Poor's Ratings Services affirmed its 'AAA' rating, with a stable outlook, on Huntsville, Ala.'s water system revenue warrants. The rating reflects our opinion of the system's: Historically strong financial profile, including strong debt service coverage (DSC) and liquidity; Robust local economy with strong wealth and income and relatively low unemployment; Competitively low water rates, resulting in tremendous rate-setting flexibility; and Strong, proactive management team. A net revenue pledge of the system secures the warrants. Located in northern Alabama, Huntsville, with a population estimate of 176,400, has experienced, what we consider, steady growth and diversification from the historically concentrated military and aerospace employment base. High-tech firms -- including Sanmina-SCI Corp., Intergraph Corp., and ADTRAN Inc. - -have facilities in
