SAN FRANCISCO (Standard&Poor's) Nov. 18, 2003-- Standard and Poor's Ratings Services removed from CreditWatch and affirmed the 'A-' rating on Redlands Financing Authority, Calif.'s water revenue bonds, issued for the City of Redlands, based on recently approved and implemented rate increases that have increased debt service coverage (DSC) somewhat for fiscal 2003 (unaudited) and have provided the system with increased financial stability. The outlook is stable. "Water service charges were increased by 16% in 2003, and will be increased the same amount in 2004," said Standard&Poor's credit analyst Paul Dyson. "In addition, the city recently formed a utility advisory committee made up of 12 citizens, which will convene periodically to review, approve, and establish rates," he
