Standard&Poor's Ratings Services has assigned its 'AA/A-1+' ratings to Orlando Utilities Commission (OUC), Fla.'s, utility system revenue refunding bonds, series 2011A. At the same time, Standard&Poor's affirmed its 'AA' long-term and underlying ratings on OUC's parity debt outstanding. The outlook is stable. We base the long-term rating on the 2011A bonds on the senior-lien rating on the utility, while the short-term rating reflects our belief that OUC has sufficient market access and liquidity within a 210-day period triggered by a bondholder put (180 days if the commission is unable to remarket the bonds within the first 30 days) before a mandatory tender date to pay the bonds' tender price. OUC has stated that if the 2011A
