The rating on Puyallup, Wash.'s bonds reflects the following credit strengths: Good financial performance, A stable and diverse local economy with access to the greater Seattle-Tacoma region, and Continued progress on the utility system's capital plan. These strengths are offset by high rates. Puyallup (GO bonds rated 'A+') is located about seven miles southeast of Tacoma and 20 miles south of Seattle. The city is a suburban-residential community with increasing trade and commerce activity based in agriculture, retail sales, and light industry. Income levels are slightly above state and national averages. The unemployment rate is a low 3.8%. Per capita retail sales are more than twice the state and national averages, reflecting Puyallup's role as a regional retail center. Puyallup's
