SAN FRANCISCO (Standard&Poor's) July 1, 2013--Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Oceanside Public Financing Authority, Calif.'s series 2013A water revenue refunding bonds issued for the City of Oceanside. The outlook is stable. "The rating reflects our opinion of the water system's strong service area characteristics, recent track record of significant annual rate increases, and strong financial metrics," said Standard&Poor's credit analyst Tim Tung. We understand that the series 2013A bonds are being issued to redeem the city's series 1998 water revenue refunding bonds, to prepay the city's series 2003 revenue certificates of participation, and to finance improvements to the city's water system. RELATED CRITERIA AND RESEARCH USPF Criteria: Key Water And
