LOS ANGELES — Fitch Ratings upgraded to investment grade $250 million of water revenue bonds issued by the Stockton Public Financing Authority, Calif. despite ongoing uncertainty from the city's bankruptcy.

Fitch upgraded $55 million of variable rate demand bonds, series 2010A, $24.2 million of series 2005A bonds, $15.5 million of series 2009A bonds, and $155 million of series 2009B bonds to BBB from BB-plus.

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