S&P rates East Bay, Calif., utility bonds AA+/A-1

Standard & Poor's said it assigned an AA+/A-1 rating to the East Bay Municipal Utility District, Calif.'s $160 million of wastewater system subordinated revenue refunding variable-rate demand obligation bonds, series 2008B.

The short-term rating is based on a standby purchase agreement from Landesbank Baden-Wurttemberg, which has a short-term rating of A-1.

The outlook is stable.

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