SAN FRANCISCO - San Diego yesterday regained its credit rating from Standard & Poor's, setting the stage for California's second-largest city to return to the public bond market after a four-year absence.

Standard & Poor's gave San Diego's general obligation bonds an A rating with a positive outlook, while rating the city's certificates of participation and revenue bonds A-minus. Standard & Poor's rated the city's wastewater revenue bonds at A-plus and assigned its water utility bonds its AA-minus rating for senior debt. The agency withdrew the city's ratings in September 2004 after a pension fund scandal.

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