Standard&Poor's Ratings Services assigned its 'A-1+' short-term rating to East Bay Municipal Utility District (EBMUD), Calif.'s water system subordinated water revenue refunding bonds, series 2009A. In addition, Standard&Poor's affirmed its 'AAA' long-term rating and underlying rating (SPUR) on EBMUD's existing water system subordinated water revenue refunding bonds. While the 2009A bonds have a nominal final maturity of June 1, 2026, identical to the district's 2008C bonds they will refund, they are subject to a mandatory tender within 13 months of the issuance of the 2009A bonds. Until the mandatory tender date or until they are called, the bonds will pay an interest rate that is reset on a weekly basis at a spread that is above
