NEW YORK (Standard&Poor's) March 5, 2002--Standard&Poor's today assigned its double-'A' rating to Tacoma, Wash.'s $28.805 million sewer system revenue refunding bonds series 2002 due Dec. 1, 2015. The bonds are expected to sell March 5, 2002. In addition, Standard&Poor's affirmed its double-'A' rating and double-'A' underlying rating (SPUR) on Tacoma's outstanding GO debt. The outlook is stable. The rating reflects the security provided by the pledge of net revenues of the sewer and surface water (stormwater) systems. Credit strengths include: -- A sound and diverse service area economy; -- A good operational history of the sewer and surface water systems; -- A strong revenue collection process, with the legal ability to place liens on
