Standard&Poor's Ratings Services assigned its 'AA/A-1+' rating to Orlando Utility Commission (OUC), Fla.'s series 2008 utility system revenue bonds. The long-term component of the rating is based on OUC's 'AA/Stable' underlying rating (SPUR) and represents the likelihood that the debt service will be repaid over the life of the issues. The short-term component of the rating on the bonds represents the likelihood of payment of tenders and reflects a standby bond purchase agreements (SBPA) provided by Banco Bilbao Vizcaya Argentaria S.A. (AA/A-1+). At the same time, Standard&Poor's affirmed its 'AA' standard long-term rating on OUC's previously issued debt. OUC's long-term credit characteristics reflect the following strengths: Consistently strong financial performance, with coverage of debt service, transfers
