S&P rates Eastern Municipal Water, Calif., bonds AA-/A-1+

Standard & Poor's said it assigned an AA-/A-1+ rating to the Eastern Municipal Water District, Calif.'s $58.6 million of water and sewer revenue variable-rate certificates of participation, series 2008B.

At the same time, S&P said it affirmed the AA- rating and underlying rating on the district's parity debt.

The outlook is positive.

The short-term rating on the 2008B bonds is based on a standby bond purchase agreement provided by Wells Fargo Bank NA.

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