SAN FRANCISCO (Standard&Poor's) Feb. 15, 2008--Standard&Poor's Ratings Services revised its CreditWatch implications on the 'A' rated 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) to positive from developing. "The rating action reflects the fact that the owner has obtained sufficient funds to address the risk that insufficient liquidity would be available to pay the purchase price when due in the event of a failed remarketing on the mandatory tender date of March 1, 2008," said Standard&Poor's credit analyst Debra Boyd. "The placement of the bonds on CreditWatch with positive implications reflects the expected defeasance of the bonds on
