Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Seattle, Wash.'s approximately $203.38 million series 2012 drainage and wastewater improvement and refunding revenue bonds. At the same time, Standard&Poor's affirmed its 'AA+' long-term and underlying rating (SPUR) on Seattle's existing drainage and wastewater system parity debt. The outlook on all ratings is stable. The rating is based on our view of the drainage and wastewater system's: Stable customer base, which anchors the deep and diverse Seattle-area economy; Good debt service coverage in 2011, and History of adopting rate increases to support stable financial performance and to offset increases in wholesale treatment rates. These strengths are partially offset by our view of the drainage and wastewater fund's
