The 'A-1+' rating on Atlanta, Ga.'s $600 million water and wastewater commercial paper notes series 2006 is based on a LOC issued severally by JP Morgan Chase Bank N.A. ('AA-/A-1+'), Dexia Credit Local ('AA/A-1+'), Bank of America, N.A. ('AA/A-1+'), and Lloyds TSB Bank plc ('AA/A-1+'). Each bank is obligated to pay up to 25% of each drawing. The LOC provides 100% of the outstanding principal of the notes and up to 270 days' interest coverage calculated at a rate not to exceed 12%. The LOC will initially expire on Feb. 14, 2009, unless extended or earlier terminated in accordance with its terms. The notes may be issued in maturities from one to 270 days. Note proceeds are being used to
