S&P Global Ratings assigned its 'AAA' long-term rating to East Bay Municipal Utility District (EBMUD), Calif.'s anticipated $248.3 million series 2024A water system revenue bonds (green bonds) and $184.1 million series 2024B water system revenue refunding bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the district's outstanding water system revenue bonds and its 'A-1+' short-term rating on the district's outstanding commercial paper (CP) notes (water series). The outlook, where applicable, is stable. The district is issuing the series 2024A bonds to reimburse itself for $275 million of capital improvements it previously funded with cash. The series 2024B bonds will refund existing debt for cash-flow savings. The district has been de-risking
