SAN FRANCISCO (Standard&Poor's CreditWire) Dec. 19, 2000--Standard&Poor's has assigned its single-'A' rating to the Cucamonga County Water District (CCWD), Calif.'s $95 million certificates of participation. The certificates are scheduled to sell Jan. 4, 2001. The outlook is stable. The rating reflects: -- Continued recovery of the regional economic base; -- Stable system operations and reliable water supply; -- Good financial performance, including strong cash balances; and, -- A well developed capital improvement plan that is manageable over five years. Off-setting weaknesses include: -- Exposure to rising water supply costs passed on from the Metropolitan Water District of Southern California (MWD), a major source of supply for the district; and, --Somewhat permissive legal provisions. The certificates are
