Standard&Poor's Ratings Services affirmed its 'A-1+' short-term rating on East Bay Municipal Utility District, Calif.'s series 2011A wastewater system revenue refunding bonds. A subordinate pledge of the district's net wastewater revenues secures the bonds. This is essentially a first pledge of net revenue, as no senior lien bonds currently exist and the district has covenanted pursuant to the indenture that it will not issue additional senior wastewater bonds. The district also operates a separate water enterprise that issues its own revenue bonds. The $64 million series 2011A bonds are being reoffered to pay the purchase price of the bonds, which are scheduled for mandatory tender on Feb. 1, 2012. The reoffered bonds will be subject to mandatory tender
