S&P gives AA+/A-1 to N.Y.C. water bonds

Standard & Poor's said it assigned an AA+/A-1 rating to the New York City Municipal Water Finance Authority's $100.435 million series 2009BB-1 and $100.435 million 2009BB-2 water and sewer system second-resolution adjustable-rate revenue bonds. The outlook is stable.

S&P affirmed its AAA rating on the system's existing first-resolution bonds and its AA+ rating on the outstanding second-resolution bonds.

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