SAN FRANCISCO (Standard&Poor's CreditWire) Jan. 12, 2001--Standard&Poor's today affirmed its single-'A'-plus underlying rating (SPUR) on Tacoma, Wash's $103.94 million electric system revenue bonds series 1999. The outlook has been revised to stable from positive. The affirmation reflects continued credit strengths, despite escalating purchased power costs. The return to a stable outlook reflects the financial pressure created from volatile market prices experienced by all utilities in the Northwest. This exposure is heightened for Tacoma as a result of its sale of the Centralia coal plant in May 2000, which had to be replaced by market purchases, and the lower than projected production of its own hydroelectric assets due to low water levels. The rating affirmation, however, reflects
