Standard and Poor's Ratings Services assigned its 'A' rating to Pittsburgh Water and Sewer Authority (PWSA), Pa.'s revenue bonds, series 2008A, 2008B, and 2008D-1 and D-2. The outlook is stable. In addition, Standard and Poor's assigned its 'A' rating, and stable outlook, to the authority's series 2008C subordinate bonds. The 'A' rating reflects the authority's: Stable customer base, with a significant commercial component; Good debt service coverage and good liquidity; Participation in the Pittsburgh metropolitan statistical area; and Adequate capacity to meet future water needs. Offsetting factors include: Slightly above-average rates, with additional rate increases needed to fund capital requirements related to a consent order with the EPA for the sewer system (the scope of which have not been determined);
