NEW YORK (Standard&Poor's) July 26, 2007--Standard&Poor's Ratings Services assigned its 'A-' rating, and stable outlook, to Mid-Bay Bridge Authority, Fla.'s $50 million series 2007A and 2007B senior-lien revenue bonds. At the same time, Standard&Poor's affirmed its 'A-' underlying rating (SPUR), with a stable outlook, on the authority's approximately $33 million series 2004A and 2004B parity bonds. The rating is based on a single-asset toll bridge that benefits from the Florida Department of Transportation's (FDOT) commitment to pay annual bridge operating and maintenance costs and an additional cash reserve. The rating further reflects an expected significant debt defeasance in October 2007. More specifically, the rating reflects FDOT's commitment to pay annual bridge operating and maintenance
