Standard & Poor’s said it raised its rating and underlying rating to AA-plus from AA on Riverside, Calif.’s outstanding water revenue debt.

In addition, it assigned its AA-plus rating to the city’s $50 million fixed-rate water revenue bonds, Series 2008B. At the same time, Standard & Poor’s assigned its AA-plus/A-1-plus rating to the city’s $60 million variable-rate refunding water revenue bonds, Series 2008A. The outlook is stable.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.