The rating on Portland, Ore.'s bonds, as well as the affirmation of the existing parity bonds, reflects the following credit strengths: A strong and diverse service area economy, A strong management team, and Continued solid financial performance. These strengths are offset by: A continued large capital plan; and High rates with additional future increases, although lower than previously projected. Portland owns, operates, and maintains the sanitary and stormwater collection and transport systems within its boundaries. Portland provides sanitary sewer service to about 500,000 people in Portland and several wholesale contract customers located adjacent to the city. The Portland area continues to grow and diversify its economic base in industries such as high-technology manufacturing, business center services, and medical services with
