Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to Pittsburgh Water and Sewer Authority, Pa.'s revenue refunding bonds series 2007 B-1 and B-2. The long-term component of the rating is based on a bond insurance policy provided by Financial Security Assurance Inc. (AAA/Stable) and represents the likelihood that debt service will be paid over the life of the issue. The short-term component of the rating represents the likelihood of payment of tenders and reflects a SBPA provided by JPMorgan Chase Bank N.A. (AA/A-1+). The SBPA shall provide coverage for principal and 34 days of interest at the maximum rate of 12% for the purchase price of bonds that are not successfully remarketed. The SBPA is scheduled to expire on
