Fitch rates Eastern Municipal Water, Calif., COPs AA/F1+

Fitch Ratings said it assigned a rating of AA/F1+ to the $55 million Eastern Municipal Water District, Calif., water and sewer revenue refunding variable-rate certificates of participation (COPs), series 2008C.

The COPs are scheduled to sell via negotiation on June 18. The outlook is stable.

The long-term AA rating on the certificates is based on Eastern Municipal Water District's long-term credit quality, while the F1+ short-term rating is based on liquidity support provided by JPMorgan Chase Bank, NA.

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