Standard&Poor's Ratings Services affirmed its 'A-1+' short-term rating on the East Bay Municipal Utility District, Calif.'s series 2009A-2 water system revenue refunding bonds. A subordinate pledge of the district's net water 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 water bonds. The district also operates a separate wastewater enterprise that issues its own revenue bonds. The $158 million series 2009A-2 bonds are being reoffered to pay the purchase price of the 2009A-2 bonds, which will be mandatorily tendered on March 1, 2012. The reoffered bonds will be subject to mandatory
