Standard&Poor's Ratings Services raised its standard long-term rating and Standard&Poor's underlying rating (SPUR) on Philadelphia, Pa.'s water and sewer revenue debt one notch to 'A' from 'A-' based on the system's stable financial performance, resulting in the utility's persistently satisfactory coverage ratios on senior-lien debt of 1.2x; consistently strong management team; and sound overall system operations with ample capacity. The outlook is stable. Other credit factors supporting the rating are: Despite the use of rate stabilization fund support at times, financial performance has been stable. With the rate stabilization funds, senior-lien debt service coverage is a satisfactory 1.20x with 1.08x coverage of revenue debt. Rates, which are currently low, should rise to only moderate levels due
