Standard&Poor's Ratings Services revised its rating outlook on Tacoma, Wash.'s electric system revenue bonds to positive from stable based on the city utility's improved financial results. At the same time, Standard&Poor's assigned its 'A+' rating to the city's series 2007 electric system revenue refunding bonds. The rating reflects: The utility's favorable power supply position, with surplus capacity in nearly all months, even under low stream flow conditions and below-average power supply costs; A strong financial profile characterized in 2005 by debt service coverage of 2.40x after city transfers and 1.49x fixed-charge coverage, manageable debt levels, and good liquidity of more than $118 million at year-end; and A history of responsive rate setting by board officials and
