NEW YORK (Standard&Poor's) July 31, 2009--Standard&Poor's Ratings Services has corrected and raised its long-term rating on Sevier County Public Building Authority, Tenn.'s general airport revenue bonds, issued for Metropolitan Knoxville Airport Authority, to 'A-' from NR (not rated). The outlook is stable. A bond insurance policy from Ambac Assurance Corp. (CC/Developing/--) also guarantees these bonds. On July 25, 2008, we assigned our 'A-' underlying rating (SPUR) on the authority's bonds but incorrectly did not change the long-term public rating. According to our criteria, the rating on a fully credit-enhanced bond is the higher of the rating on the credit enhancer and the SPUR. In this case, the rating on the airport is higher than that on
