Standard&Poor's Ratings Services lowered its long-term rating and underlying rating (SPUR) on DeKalb-Jackson Water Supply District Inc., Ala.'s utility revenue debt to 'A-' from 'A'. The outlook is stable. At the same time, Standard&Poor's assigned its 'BBB+' long-term rating to DeKalb-Jackson Cooperative District, Ala.'s series 2016 revenue bonds. DeKalb-Jackson Water Supply District's subordinate-lien water pledge and Upper Sand Mountain Gas District's net revenue pledge secure the series 2016 bonds, which will be used to finance the construction of a start-up gas system serving DeKalb and Jackson counties. The rating on the series 2016 bonds is based on DeKalb-Jackson Water Supply District's subordinate-lien water net revenue pledge. The downgrade reflects Standard&Poor's opinion of the water
