The 'AA-' standard long-term rating and the 'AA-' Standard&Poor's underlying rating (SPUR) on the City of Tacoma, Wash.'s water system revenue bonds has been affirmed, and reflects the city's: The substantial completion of the system's second water supply source, which will have only a modest effect on operations and rates of the existing system; The sound and diverse service area economy; The more than adequate capacity to meet water demand; The manageable capital plan; and The sound financial operations. Tacoma (population: over 190,000) is located in Pierce County, 32 miles south of Seattle. The leading local employers are Fort Lewis Army Base and McChord Air Force Base, with a total of 30,000 military and civilian employees. The city
