Standard&Poor's Ratings Services assigned its 'A-1+' rating to the City of Albuquerque, N.M.'s third lien airport revenue commercial paper notes, series A, B, and C, based on an irrevocable Letter of Credit (LOC) issued by The Bank of New York ('A-1+'). The LOC is providing $55 million of coverage on principle plus 270 days of interest at the maximum rate of 12%. The LOC will initially expire on Oct. 26, 2011, unless extended or earlier terminated in accordance with its terms. The issuing and paying agent is instructed not to issue notes whose principle and interest would exceed the current coverage on the LOC. The notes may be issued in maturities from one to 270 days. Note proceeds
