Standard&Poor's Ratings Services assigned its 'AA' long-term rating to the Sacramento County Sanitation Districts Financing Authority, Calif.'s approximately $388 million senior lien series 2014A revenue refunding bonds, issued for the Sacramento Regional County Sanitation District. At the same time, Standard&Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the district's existing senior-lien revenue bonds and our 'AA-' long-term rating and SPUR on the district's existing subordinate-lien revenue bonds. The outlook on all ratings is stable. The ratings reflect our view of the district's: Large, diverse service area anchored by the state capital; Adoption of three years of rate increases through fiscal 2017; and Strong liquidity position, with unrestricted cash representing 1,157 days' of operating
