Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Tacoma, Wash.'s limited-tax general obligation (LTGO) refunding bonds, series 2013. At the same time, Standard&Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the city's GO debt outstanding. The outlook is stable. The ratings reflect our opinion of the city's: Economic base, which serves as a hub of the Seattle regional economy and is locally anchored by defense and trade activities; Good financial policies and practices, including a formal reserves policy; and New management team, which has balanced the city's operations for the first time in several years and projects the city's financial position will improve in unaudited fiscal 2012. Partially offsetting these strengths, in
