Standard&Poor's Ratings Services assigned its 'AA+' rating, and a stable outlook, to New York City Municipal Water Finance Authority's series 2008B water and sewer system first-resolution revenue bonds. The short-term ratings are based on four separate liquidity facilities, enhancing (severally but not jointly) each subseries as follows: JP Morgan Chase covering $200 million for subseries B-1; Lloyds TSB Bank covering $100 million for subseries B-2; Bank of America, N.A. covering $135 million for subseries B-3; and, BNP Paribas covering $100 million for subseries B-4. Each liquidity facility covers the price of purchase bonds in the event of a failed remarketing at the maximum rate for 189 days' interest. The liquidity facilities all terminate on March 18, 2013, unless
