Standard & Poor’s Affirms Water Department Stellar Credit Rating

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LONG BEACH, CA – Standard & Poor’s has recently affirmed an “A-1+” short-term credit rating for the Long Beach Water Department’s outstanding Commercial Paper notes. The Department issued Commercial Paper notes in 2002 to fund its citywide reclaimed water expansion project and the seawater desalination project. The A-1+ rating is the highest ranking opinion given by Standard & Poor’s for credit quality.