Standard&Poor's Ratings Services has assigned its 'A' rating to Jeffersonville, Ind.'s 2009 sewage works revenue refunding bonds. The rating reflects our assessment of the system's: Good coverage of annual debt service with strong liquidity levels; Adequate income and wealth indicators; and Participation in the Louisville, Ky. economic base. In our opinion, these strengths are somewhat lessened by the city's significant capital needs, which will be addressed over the next few years with sizable rate increases. The bonds are secured by the city's net revenue pledge of its sewage works system. The bonds will refund the sewage works' 1998 bonds for interest cost savings. The debt service reserve from the 1998 bonds will remain intact, with Jeffersonville funding the
