Standard&Poor's Ratings Services affirmed its 'AAA/A-1' rating on Los Angeles, Calif.'s wastewater system subordinate revenue variable-rate refunding bonds series 2008A, 2008B, 2008C, 2008D, 2008E, 2008 F-1, 2008F-2, 2008G and 2008H, due to the bank facilities being extended to Nov. 26, 2012. The long-term component of the rating on the series 2008A, 2008B, 2008C, 2008D, and 2008E bonds is based jointly (assuming low correlation) on the ratings on the, obligor, Los Angeles, and the letter of credit provider, JPMorgan Chase Bank N.A. The short-term component of the rating is based solely on the rating on the letter of credit provider, JPMorgan Chase Bank N.A. The long-term component of the rating on the series 2008 F-1, 2008F-2, 2008G and 2008H
