Standard&Poor's Ratings Services raised its senior lien rating and underlying rating to 'AA+' from 'AA' and its subordinate lien rating to 'AA' from 'AA-' on Los Angeles, Calif.'s outstanding wastewater revenue bonds. In addition, we assigned our 'AA+' rating to the wastewater system's series $198 million 2012A senior lien and up to $162 million 2012B senior lien revenue bonds and our 'AA' rating to the system's $95 million series 2012A subordinate lien bonds, $80 million 2012B subordinate lien bonds, and up to $494 million 2012C subordinate lien bonds. The raised ratings reflects the system's strong financial performance and recent city council approval of annual rate increases of 4.5% to 6.5% during the next 10 years, which will provide
