Standard&Poor's Ratings Services assigned its 'AA/A-1+' rating, and stable outlook, to New York City Municipal Water Finance Authority's series 2007CC water and sewer system second general resolution revenue refunding bonds and affirmed its 'AA+' standard long-term rating and Standard&Poor's underlying rating (SPUR), with a stable outlook, and its 'AA' standard long-term rating, with a stable outlook, on the system's preexisting first- and second-resolution bonds, respectively. The short-term rating is based on an SBPA provided by Bank of Nova Scotia. The SBPA covers the purchase price of tendered bonds in the event of a failed remarketing. The SBPA expires on Nov. 15, 2016, but is subject to earlier termination pursuant to its terms. The long-term ratings on
