May 30, 2012 / 4:52 PM / 5 years ago

TEXT-S&P corrects issue rating on Long Island Water to 'BBB'

May 30 - Standard & Poor's Ratings Services said today it corrected its
rating on Long Island Water Corp.'s $16 million 4.9% senior secured water
facility revenue bonds maturing Oct. 1, 2034 (ISIN: US649851BM31) by raising it
to BBB/Developing from B/Negative. Because of an administrative error, we did
not raise the rating on this issue when it was re-insured by National Public
Finance Guarantee Corp., a subsidiary of MBIA, in 2008.	
	
RATINGS LIST	
Rating Raised	
                                  To             From	
Long Island Water Corp.	
$16 mil. 4.9% senior secured bonds   BBB/Developing   B/Negative	
	
	
Complete ratings information is available to subscribers of RatingsDirect on 	
the Global Credit Portal at www.globalcreditportal.com. All ratings affected 	
by this rating action can be found on Standard & Poor's public Web site at 	
www.standardandpoors.com. Use the Ratings search box located in the left 	
column.

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