Standard&Poor's Ratings Services raised its rating on Foothill-Eastern Transportation Corridor Agency, Calif.'s series 1999 bonds to 'AA+' from 'BBB-' based on the defeasance of the bonds through the deposit of cash and U.S. Treasury obligations in an escrow. At the same time, Standard&Poor's withdrew its 'BBB-' rating on the agency's series 2013D bonds because the bonds never sold. The escrow bank will make transfers sufficient to pay the principal and interest due on Jan. 15, 2014, and will pay the redemption price of the remaining series 1999 bonds on Feb. 1, 2014. The escrow agent is the Bank of New York Mellon Trust Company, N.A. Standard&Poor's has reviewed the verification report prepared by a
