SAN FRANCISCO (Standard&Poor's) Jan. 11, 2008-- Standard&Poor's Ratings Services placed its 'A' rating on Maricopa County Industrial Development Authority, Ariz.'s multifamily housing revenue refunding bonds, series 1998 A and B (Coral Point Apartments and Jackson Park Place II) on CreditWatch with developing implications. "The CreditWatch placement reflects our concern regarding the incapacity of the transaction to meet its financial commitment to pay the tender price on the bonds on the March 1, 2008, mandatory tender date, should unfavorable conditions lead to failed remarketing," said Standard&Poor's credit analyst Debra Boyd. "If the owner fails to secure backup liquidity or fails to show substantial progress on its refinance prior to Feb. 15, the rating would be
