SAN FRANCISCO (Standard&Poor's) Feb. 24, 2009-- Standard&Poor's Ratings Services assigned its 'A-1' short-term rating to the East Bay Municipal Utility District Calif.'s wastewater system subordinate lien revenue refunding bonds (variable rate demand bonds) series 2008C. In addition, Standard&Poor's lowered its short-term rating to 'A-1' from 'A-1+' on the district's wastewater system subordinate lien revenue refunding bonds (variable rate demand bonds) series 2008B. Both short-term ratings reflect the liquidity support provided in the form of a standby bond purchase agreement from Dexia Credit Local (A-1). On Oct. 7, 2008, Standard&Poor's lowered its rating to 'A-1' from 'A-1+' on Dexia. On that date, however, we incorrectly did not change our short-term ratings on
