Standard&Poor's Ratings Services assigned its 'AA' rating to Sacramento County Sanitation District Financing Authority, Calif.'s approximately $340 million series 2006 revenue bonds, issued for Sacramento Regional County Sanitation District (SRCSD). In addition, Standard&Poor's affirmed its 'AA' underlying rating (SPUR) on the authority's outstanding senior revenue debt and its 'AA-' rating on the authority's subordinate debt. The rating reflects the district's: Diverse and growing economic base, which includes the state capital; Competitive rates relative to comparable West Coast systems; Strong debt service coverage (DSC) and liquidity levels; and Conservative fiscal policies and practices. Tempering the district's ratings are its: Large $580 million, five-year capital improvement program (CIP), nearly half of which is planned to be completed in
