NEW YORK (Standard&Poor's) Oct. 20, 2011--Standard&Poor's Ratings Services said it took various rating actions on 150 U.S. Public Finance issues backed by letters of credit (LOCs) and standby bond purchase agreements (SBPAs) provided by Dexia Credit Local. The ratings on the 150 issues are supported by Dexia Credit Local in the form of either LOCs or SBPAs, which provide for the full and timely payment of interest and principal according to the transactions' terms. The rating actions follow Standard&Poor's Oct. 6, 2011, downgrade and placement of its rating on Dexia Credit Local on CreditWatch with developing implications (see "Dexia's Core Banks Downgraded To 'A-/A-2' On Funding Constraints; Put On Watch Developing On Possible Restructuring,"
