The 'AA' rating on Naperville, Ill.'s electric revenue bonds reflects: Very competitive wholesale electric rates, The breadth and strength of the service area economy, and Strong debt service coverage and liquidity. An offsetting near-term risk is power supply after 2007. The bonds are secured by net system revenues. Naperville's business profile of '3' on a scale of '1' to '10', with '1' being the strongest score attainable and '10' being the weakest, reflects, among other actors, favorable wholesale rates supplied under an all-requirements fixed-price contract with Commonwealth Edison Co. (ComEd) that expires in 2007. Under the contract, the cost of purchased power is 95% of ComEd's lowest published rate tariff for large loads. During fiscal 2003, the city's purchased power
