The rating on the City of Los Angeles Wastewater System's bonds, series 2001 A-D, is affirmed at 'AAA/A-1+' upon the establishment of a long-term mode to end on Dec. 8, 2004. Rating confirmation is required prior to conversion to a long-term mode or for any change in the long-term rate. The long-term rating on the bonds reflects the credit quality of the insurance provider, Financial Security Assurance Inc. The short-term rating on the bonds is based on the credit quality of the liquidity provider, FGIC Securities Purchase, Inc., whose obligations are secured by GE Capital Corporation. The SBPA will expire on Nov. 7, 2006, or earlier pursuant to its terms. Complete ratings information is available to subscribers of RatingsDirect, Standard
