Standard&Poor's Ratings Services raised its ratings on Sacramento County Sanitation Districts Financing Authority (Sacramento Regional County Sanitation District), Calif.'s subordinate-lien variable-rate refunding revenue series of bonds (2008A, 2008B, 2008C, 2008D, and 2008E) to 'AAA/A-1+' from 'AA-'. This action follows the addition of direct-pay letters of credit (LOCs) provided by Bank of America N.A. (AA+/A-1+) for series 2008A, 2008B, 2008C, and 2008D; and U.S. Bank N.A. (AA+/A-1+) for series 2008E. Each of the ratings is based on the application of Standard&Poor's joint criteria assuming low correlation, using the Standard&Poor's 'AA-' underlying rating (SPUR) on Sacramento Regional County Sanitation District and the LOCs provided by Bank of America N.A., and U.S. Bank N.A. Please see, "Sacramento
