The ratings assigned to Hamilton County, Ohio's variable-rate demand economic development revenue bonds series 2002 and 2003 are based on the irrevocable, direct-pay letter of credit (LOC) that Fifth Third Bank (FTB; BBB+/Negative/A-2) provides. We will withdraw our ratings on the bonds on May 15, 2010, the LOC' expiration date, unless FTB agrees to extend the LOC expiration date or an alternate LOC provider replaces FTB, each according to the indenture's terms. The ratings only apply to the bonds when they are in the variable-rate mode (see Structural Overview). The long-term rating reflects our opinion of the likelihood that the bonds' principal and interest will be repaid according to the indenture's terms based on the credit support that the LOC
