Dec 19 Standard & Poor's Ratings Service late on
Tuesday said it raised the long-term and underlying rating on
Fresno California's senior-lien water revenue refunding bonds to
A-plus from A.
The rating agency also affirmed the city's series 2010A-1
and 2010A-2 A Build America water revenue bonds.
"The rating action reflects our view of the city's extremely
strong debt service coverage and closed lien, which renders it
unable to issue additional senior-lien debt," said S&P credit
analyst Paul Dyson in a statement.