NY -- Standard & Poor's CreditWire 1/22/98 -- Standard & Poor's today assigned its double-`A'-plus rating to Memphis, Tenn.'s $20 million sanitary sewer system revenue bonds series 1998 dated Jan. 15, 1998 due July 1, 2018. The bonds are scheduled to sell Jan. 22, 1998. At the same time, Standard & Poor's raised its rating on the city's outstanding $67.2 million sanitary sewer system refunding revenue bonds series 1993, 1994A, and 1996 to double-`A'-plus from double-`A'. The minimal risks associated with the Memphis Sanitary Sewer System warrant the rating upgrade to double-`A'-plus. The rating reflects the following strengths: -- Exceptionally low sewer rates with no expected increases, -- Continued growth and economic diversification, -- Strong historic and projected debt service...
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