Standard&Poor's Ratings Services has assigned its 'A' long-term rating to Philadelphia's series 2015A and B 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. Except for when applying joint criteria, in which case the outlook is not meaningful, we have revised the outlook on the ratings to positive from stable. The positive outlook reflects our opinion that there is at least a one-in-three chance that the rating could improve from its current
