NEW YORK (Standard&Poor's) Oct. 3, 200--Standard&Poor's today assigned its double-'A'-minus rating to Tacoma, Wash.'s $34 million water system revenue bonds series 2001 due Dec. 1, 2023. In addition, Standard&Poor's raised its rating and underlying rating (SPUR) on the city's outstanding bonds to double-'A'-minus from single-'A'-plus. The outlook is stable. The upgrade reflects 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 bonds are secured by net revenue of the water system. The upgrade also reflects the city's: -- Sound and diverse service area economy, -- More than adequate capacity to meet water demand, -- Manageable capital plan, and
