The rating on Albuquerque, N.M.'s airport subordinate-lien adjustable tender refunding revenue bonds series 1995 has ben affirmed. The long-term component of the rating on the bonds is based on a bond insurance policy provided by Ambac Assurance Co. (AAA). The short-term component of the rating, as of May 1, 2007, is based on a liquidity facility substitution provided by Depfa Bank PLC. (A-1+). The new liquidity facility will cover 35 days of interest at the maximum rate, and will pay the purchase price of the bonds in the event of a failed remarketing. The new liquidity facility will expire on April 1, 2014. The stable outlook is based on the bond insurer.
