SAN FRANCISCO (Standard&Poor's) Sept. 14, 2007--Standard&Poor's Ratings Services revised the outlook to developing on its 'A' rating on Maricopa County Industrial Development Authority, Ariz.'s multifamily housing revenue refunding bonds, series 1998 A and B (Coral Point Apartments&Jackson Park Place II). "The developing outlook reflects the financial strength of the properties but recognizes the concerns regarding the authority's ability to meet liquidity needs on the mandatory tender date of March 1, 2008," said Standard&Poor's credit analyst Debra Boyd. "If by Dec. 31, 2007, the owner fails to ensure that alternative financing or backup liquidity will be in place, the rating could be lowered. However, if the owner provides us sufficient comfort that alternative financing or sufficient liquidity
