Standard&Poor's Ratings Services assigned its 'SP-1' short-term rating to Philadelphia, Pa.'s $370 million TRANs series 2005A, reflecting the city's: Adequate general fund liquidity position; and Good historical, but only adequate projected, debt service coverage from net ending general fund cash balances on the segregation dates and TRAN maturity date. The TRANs are secured by the full faith and credit GO pledge of the city, which carries a 'BBB' long-term GO rating and stable outlook, and are payable from fiscal 2005 general fund receipts. Proceeds will finance the city's seasonal cash flow needs. The TRAN repayment account will be held by the trustee, Wachovia Bank, N.A. The city is required to deposit funds with the trustee on May 31,
