The ratings on Los Angeles Wastewater System, Calif.'s bonds series 2001 A, series 2001 B, 2001 C, and 2000 D, have been affirmed at 'AAA/A-1+' subsequent to the establishment of a long-term mode to end on Dec. 14, 2005. Prior to conversion to a long-term mode or for any change in the long-term rate, ratings confirmation by Standard&Poor's Ratings Services is required. The long-term component of the rating on the bonds reflects the credit quality of the insurance provider, Financial Security Assurance Inc. The short-term component of the 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 Corp. The SBPA will expire
