Standard&Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) to 'AA+' from 'AA' on Seattle, Wash.'s existing water system revenue bonds. At the same time, Standard&Poor's assigned its 'AA+' rating to the city's $100.245 million series 2008 water system revenue bonds. The raised rating reflects the recognition that, while financial margins are adequate, Seattle's water revenue bonds have very strong credit fundamentals, including: Seattle's role as regional water supplier; The service area's deep and diverse economic base (Seattle's and King County's general obligation bonds are both rated 'AAA'); Excellent financial management with well-thought-out debt service coverage (DSC) ratio targets; Managerial and political willingness to implement an appropriate rate structure to ensure sufficient funding for
