S&P Global Ratings assigned its 'AAA' long-term rating to East Bay Municipal Utility District, Calif.'s series 2017A water system revenue bonds (green bonds) and series 2017B water system revenue/refunding bonds. At the same time, we affirmed our 'AAA' long-term rating and underlying rating (SPUR) on the district's existing water system revenue bonds, the 'AAA' long-term component of the dual ratings on the district's variable-rate bonds, and our 'A-1+' short-term rating on the district's commercial paper (CP) notes (water series). The ratings reflect, in our opinion, the combination of an extremely strong enterprise risk profile and a very strong financial risk profile. The outlook, where applicable, is stable. The enterprise risk profile reflects our view of the water system's: Service area
