NEW YORK (Standard&Poor's CreditWire) Jan. 28, 1999--Standard&Poor's today placed its ratings on four issues that receive LOC backing from Bank of Nova Scotia on CreditWatch with negative implications (see list). The rating action follows the Dec. 18, 1998 placement of Bank of Nova Scotia's ratings on CreditWatch with negative implications, Standard&Poor's said. -- CreditWire RATINGS PLACED ON CREDITWATCH WITH NEGATIVE IMPLICATIONS Amt. Issue (mil. $) Rating Emmaus General Authority, PA (Downingtown Area Sch Dist) local government revenue bonds (Pooled Bnds Program) series 1989 subseries D-13 10.0 SP-1+/A-1+ Emmaus General Authority, PA local government revenue bonds (West Shore School District) series 1989 subseries C-12 10.0 SP-1+/A-1+ New York State Local Government Assistance Corp. variable interest-rate
