NEW YORK (Standard&Poor's) July 14, 2008--Standard&Poor's Ratings Services raised to 'AAA' from 'AA+' its rating on New York City Municipal Water Finance Authority's first resolution bonds, and raised to 'AA+' from 'AA' its rating on the Authority's second resolution debt. The outlook on both ratings is stable. The actions affect roughly $10.8 billion of first-lien debt and $8.2 billion of second-lien bonds. "The upgrade reflects the Authority's long history of maintaining strong coverage and liquidity and its sound financial and capital planning," said credit analyst John Sugden-Castillo. "The upgrade also reflects the Authority's demonstrated willingness and ability to pass the necessary rate increases to maintain the system's financial integrity," he added. Standard&Poor's also assigned
