Standard&Poor's Ratings Services assigned its 'AA' long-term rating to the City of Tacoma, Wash.'s series 2009 water system revenue bonds. At the same time, Standard&Poor's affirmed its 'AA' underlying rating (SPUR) on the city's outstanding parity debt. The rating reflects: The large and economically diverse service area of Pierce and southern King counties; Sufficient system capacity, coupled with the city's advance planning to secure water supply and infrastructure to support future demand; and Good financial profile represented by historically good coverage and liquidity ratios. The foregoing credit strengths are tempered by a relatively large long-term capital plan with planned debt financings that will more than double the system's debt by fiscal 2013. The bonds are secured
