Standard&Poor's Ratings Services has assigned its 'A' long-term rating to Philadelphia's series 2014A water and wastewater revenue refunding bonds and affirmed the following ratings: The 'A' long-term rating and underlying rating (SPUR) on the city's existing water and wastewater revenue debt; and The 'AAA/A-1+' rating on the city's series 1997B bonds, which are jointly secured by the city and the letter of credit (LOC) provider TD Bank N.A. The outlook on the ratings is stable, except for when joint criteria has been applied to the issue's long-term rating, in which case the outlook is not meaningful. The city will use the series 2014A bond proceeds to refund a portion of its outstanding bonds. The 'A' long-term rating and
