Standard&Poor's Ratings Services affirmed its 'A+' underlying rating (SPUR) on Puyallup, Wash.'s GO bonds, reflecting the following credit strengths: A growing local economy with a convenient location, which includes participation in the diverse Seattle-Tacoma area economy; Above-average income levels and market value per capita; Steady tax base growth; and A strong history of financial performance, including good reserve levels and policies. The bonds are secured by the city's GO and unlimited ad valorem taxes. The bonds were issued for the construction of a new library and represent the entire authorization approved by voters in September 1999. Puyallup is located about seven miles southeast of Tacoma and 20 miles south of Seattle. The city is a suburban-residential community with
