NEW YORK (Standard&Poor's) April 6, 2010--Standard&Poor's Ratings Services today corrected its rating on Pennsylvania Higher Education Assistance Agency's student loan adjustable-rate revenue bonds series 1997A (the bank bonds) by withdrawing the 'A' long-term rating on the bank bonds and removing the rating from CreditWatch with negative implications, where it was placed Nov. 24, 2008. The bank bonds were backed by a financial guarantee insurance policy provided by Ambac Assurance Corp. (Ambac). Due to an error, the rating on the bank bonds was incorrectly placed on CreditWatch negative on Nov. 24, 2008, and did not change contemporaneously with our rating actions on Ambac through the period ending August 2009, when, according to our criteria, the rating should
