Standard&Poor's Ratings Services assigned its 'AAA' long-term rating and stable outlook to South Dakota Conservancy District's series 2010A and 2010B state revolving fund program bonds. Standard&Poor's also affirmed its 'AAA' long-term rating on the district's various bond issues, and its 'A-1+' short-term rating on the district's series 2008 bonds. The short-term rating represents the likelihood of payment of tenders and reflects separate standby bond purchase agreements (SBPAs) provided by US Bank N.A. (AA-/Stable/A-1+). The 'AAA' long-term rating on the district's state revolving fund program bonds reflects the following credit characteristics: Program revenues at a level that meet Standard&Poor's state revolving fund criteria for an 'AAA' rated program, A cross-collateralization mechanism between the clean water
