Standard&Poor's Ratings Services assigned its 'AA+' rating, and stable outlook, to New York City Municipal Water Finance Authority's (NYCMWFA) series 2006B water and sewer system revenue bonds and its 'AA' rating, and stable outlook, to the authority's series 2006BB water and sewer system second general resolution revenue bonds. Standard&Poor's also affirmed its 'AA+' rating on the authority's first-resolution pre-existing debt and 'AA' rating on the authority's second-resolution pre-existing debt. The ratings on the first- and second-resolution bonds reflect: The credit strengths provided by the issue's legal and structural features -- the rating distinction reflects the differences in the security pledges; A gross revenue pledge that, when combined with New York City Water Board's ability to raise
