Standard&Poor's Ratings Services affirmed its 'AA-/A-1' rating on Pittsburgh Water&Sewer Authority, Pa.'s water and sewer first-lien variable-rate demand bonds series 2008D-2, due to the bank facility being extended to Aug. 4, 2014. The long-term component of the rating is based on the rating on Assured Guaranty Municipal Corp. The short-term component of the rating is based on the rating on PNC Bank N.A., Pittsburgh, Pa. The stable outlook is based on the outlook of the insurance provider. USPF Criteria: Bank Liquidity Facilities, June 22, 2007