Standard and Poor's assigned its 'AA-/A-1+' rating and 'AA-' underlying rating (SPUR) to the Los Angeles Wastewater System bonds series 2008 A, B, C, D, and E, based on the direct pay letter of credit (LOC) provided by the Bank of Nova Scotia. Standard and Poor's also assigned its 'AA+/A-1+' rating and 'AA-' SPUR to the Los Angeles Wastewater System bonds series 2008 F-1, F-2, G, and H, based on the direct pay LOC provided by Bank of America, N.A. Very strong financial indicators, including a long record of robust liquidity indicators even while implementing a sizeable capital plan, underpin our ratings. The ratings also more generally reflect: An extremely broad and diverse service area economy covering most of Los
