Standard&Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Sacramento County Sanitation District Financing Authority, Calif.'s $530.03 million series 2004A revenue bonds, issued for Sacramento Regional County Sanitation District (SRCSD), based on the strength of the payments made by the regional sanitation district. Standard&Poor's also affirmed its 'AA' Standard&Poor's underlying rating (SPUR) on the authority's debt outstanding. The rating reflects the district's: Diverse economic base, which is anchored by state government; Low rates; Strong financial performance and liquidity; and Conservative fiscal policies and practices. Partially mitigating these strengths are the district's: Large capital improvement program (CIP), which is 80% debt financed, over the next five years; and Potential need to increase rates
