Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'A+' from 'A' on the Cucamonga Valley Water District, Calif.'s water enterprise debt and assigned its 'A+' rating to the district's $22.3 million water enterprise certificates of participation (COPs). The upward rating action reflects economic growth within the district's service area, along with a demonstrated ability to regularly increase service rates, the latter of which has lessened the district's reliance on one-time connection fees to support coverage. Key overall credit factors include the district's: Growing service area economy located in the Los Angeles region; Track record of consistently good debt service coverage and strong liquidity levels during the past four audited fiscal years; and Manageable capital plan, with no
