Fitch rates New York City water bonds AAA, AA+

Fitch Ratings said it assigned an AAA rating to the New York State Environmental Facilities Corp.'s $261 million of state clean water and drinking water revolving funds revenue bonds (New York City Municipal Water Finance Authority projects - second resolution bonds), series 2008A.

Fitch also gave an AA+ rating to the authority's $217.9 million of subordinate-lien bonds.

In addition, Fitch said it affirmed the AAA rating on $3.9 billion of the corporation's senior-lien bonds for the authority and the AA+ rating on $904.5 million of the corporation's subordinate-lien bonds for the authority.

The outlook is stable.

Series 2008A and 2008B are scheduled to price during the week of May 5 by negotiation.

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