SAN FRANCISCO (Standard&Poor's) Jan. 27, 2010--Standard&Poor's Ratings Services raised the long-term component of its rating on the Los Angeles Wastewater System, Calif.'s series 2008A-E bonds to 'AAA/A-1+' from 'AA-/A-1+'. At the same time, Standard&Poor's raised the long-term component of its rating on the system's series 2008F-H bonds to 'AAA/A-1' from 'AA-/A-1'. "The rating changes follow the application of our joint criteria, assuming a low correlation based on the obligor and the Bank of Nova Scotia, the letter of credit provider for the 2008A-E bonds, and based on the obligor and the Bank of America, the letter of credit provider for the 2008F-H bonds," said Standard&Poor's credit analyst Ian Carroll. At the issuer's
