Standard&Poor's Ratings Services confirmed its 'AAA/A-1' rating on Los Angeles, Calif.'s wastewater systemn subordinate revenue variable-rate refunding bonds series 2008D, 2008E, 2008F-1, 2008F-2, and 2008H, due to the bank facility being extended to Jan. 31, 2013. The long-term component of the rating is based jointly (assuming low correlation) on the ratings on the obligor, Los Angeles, and the letter of credit providers, JPMorgan Chase Bank N.A. and Bank of America N.A. The short-term component of the rating is based solely on the rating on the letter of credit providers, JPMorgan Chase Bank N.A. and Bank of America N.A. Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009 USPF Criteria: Municipal Applications For Joint Support Criteria, June 25, 2007 Criteria: Joint Support
