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Fitch Downgrades Millbrae, CA's Wastewater Rev COPs to 'A+'; Outlook Stable

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AUSTIN, Texas--(BUSINESS WIRE)--Fitch Ratings downgrades the following Millbrae, CA (the city) outstanding certificates of participation (COPs) to 'A+' from 'AA-': --$5.6 million wastewater revenue COPs series 2009A (federally taxable Build America Bonds); --$6.7 million wastewater revenue COPs series 2009B. The Rating Outlook is Stable. SECURITY The COPs are secured by a pledge of net revenues of the wastewater enterprise fund including credits expected to be received from the federal governme

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