Standard&Poor's Ratings Services affirmed its 'AAA/A-1+' rating on San Antonio, Texas' water system subordinate lien revenue and refunding bonds series 2003A and 2003B due to the bank facility being extended to March 26, 2009. The long-term component of the rating is based on MBIA Insurance Corp. The short-term component of the rating is based on JPMorgan Chase Bank N.A. The negative outlook is based on the bond insurer, MBIA Insurance Corp.