Standard&Poor's Ratings Services revised its outlook to stable from negative on the East Bay Municipal Utility District (EBMUD), Calif.'s existing water system revenue bonds. At the same time, Standard&Poor's affirmed the following ratings: 'AAA' long-term and underlying rating (SPUR) on the district's outstanding water system revenue bonds (the short-term ratings on the series 2008A variable rate demand bonds (VRDBs) are based on the short-term ratings of the standby bond purchase agreement or SBPA providers); 'A-1+' short-term rating on the district's series 2009A-1 and series 2009A-2 water revenue refunding bonds; and 'A-1+' short-term rating on the district's extendible commercial paper (ECP) notes (water series). The revised outlook is based on our view that the district's financial performance
