Standard&Poor's Ratings Services raised the long-term component of its rating on the Los Angeles Wastewater System, Calif.'s series 2008A-E bonds to 'AAA/A-1+' from 'AA-/A-1+' following the application of its joint criteria, assuming a low correlation based on the obligor (AA-) and the Bank of Nova Scotia (AA-/A-1+), the letter of credit (LOC) provider for the bonds. At the same time, Standard&Poor's raised the long-term component of its rating on the system's series 2008F-H bonds to 'AAA/A-1' from 'AA-/A-1' also following the application of our joint criteria, assuming a low correlation based on the obligor (AA-) and the Bank of America (A+/A-1), the LOC provider for the 2008F-H bonds. At the issuer's request, we are also assigning
