Standard&Poor's Ratings Services affirmed its 'A' rating on Pittsburgh Water&Sewer Authority (PWSA), Pa.'s series 2008C-1D subordinate revenue refunding bonds in connection with the remarketing of the bonds. The outlook is stable. As of Sept. 1, 2012, the bonds will be maintained in term mode. Standard&Poor's also affirmed its 'A' underlying rating (SPUR), with a stable outlook, on the authority's revenue bonds. The 'A' long-term rating reflects our opinion of the general creditworthiness of the authority, including its: Stable service area economy, albeit with a significant commercial base; and Limited operating risk, given a virtually unlimited raw-water supply from the Allegheny River and treatment services provided by the Allegheny County Sanitary Authority (ALCOSAN; A/Stable). In
