Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Seattle, Wash.'s series 2014 drainage and wastewater improvement and refunding revenue bonds. At the same time, Standard&Poor's affirmed its 'AA+' long-term rating 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 in the deep and diverse Seattle-area economy; Strong debt service coverage over the past three years, and History of adopting rate increases to support stable financial performance and to offset increases in wholesale treatment rates. These strengths are partly offset by our view of the system's: Liquidity position, which
