The rating on Puyallup, Wash.'s bonds reflects participation in the diverse Seattle-Tacoma area economy and good finances. Factors that offset these strengths are tax base concentration and moderate debt, coupled with future capital needs. The bonds are scheduled to sell July 1, 1998 and are expected to receive a 'AAA' rating based on bond insurance. Puyallup (population 29,865) is a growing suburban community in northwestern Pierce County, seven miles southeast of Tacoma and about 20 miles south of Seattle. In addition to those cities, residents have access to the nearby employment centers of Renton, Kent, and Auburn. Leading local employers include the Good Samaritan Hospital (1,850 employees) and South Hill Mall (1,500), which is a major regional retail center. Local
