Standard&Poor's Ratings Services assigned its 'A' long-term rating, and stable outlook, to Philadelphia's series 2010C water and wastewater revenues bonds and series 2010D taxable water and wastewater revenue build America bonds and affirmed its 'A' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing water and wastewater revenue debt. In our opinion, positive credit factors include the city's: Stable financial performance despite its reliance on rate stabilization support; Competitive rates, which will remain low despite planned increases through fiscal 2012; and Experienced management team that continues to emphasize, and is achieving, improved system maintenance, stronger collections, and more-comprehensive fiscal monitoring systems. In our opinion, despite these positive credit factors, the rating remains restrained
