NEW YORK (Standard&Poor's) May 4, 2009--Standard&Poor's Ratings Services lowered the short-term ratings on seven municipal variable rate demand bonds (VRDOs) listed below that are insured by National Public Finance Guarantee Corp. (NPFGC; AA-/Watch Dev/--) to 'A-2' as a result of our rating actions on MBIA Insurance Corp.'s counterparty credit and financial strength ratings (see "MBIA Insurance Corp. Ratings Lowered To 'BBB+'; MBIA Insurance Corp. of Illinois Downgraded To 'AA-'", published Feb. 18, 2009, on RatingsDirect). We removed the ratings from CreditWatch with negative implications where they were placed Feb. 27, 2009. Although all of MBIA Insurance Corp.'s policies insuring municipal entities were transferred to NPFGC, the terms of the related standby bond purchase agreements (SBPA) for
