NEW YORK (Standard&Poor's) Sept. 10, 2010--Standard&Poor's Ratings Services assigned its 'AA+' long-term rating, and stable outlook, to New York City Municipal Water Finance Authority, N.Y.'s 2011AA federally taxable Build America Bonds (BABs) second-resolution water and sewer system bonds and affirmed its 'AAA' and 'AA+' long-term and underlying ratings (SPURs), with a stable outlook, on the authority's existing first- and second-resolution bonds. "The ratings on the first- and second-resolution bonds reflect our view of the credit strengths provided by the issuer's legal and structural features," said Standard&Poor's credit analyst John Sugden-Castillo. The ratings also reflect our assessment of: Gross pledge of revenues that results in true separation from the utility's operating function when combined with
