Standard&Poor's Ratings Services' underlying rating on Jets Stadium Development LLC's $255 million project revenue Series 2007A-4 bonds is 'AA/A-1'. The rating reflects our joint rating criteria, assuming low correlation between the Sumitomo Mitsui Banking Corp. letter of credit (LOC) and the issuer. Our underlying rating on the $200 million Series 2007A-1 bonds, which Assured Guaranty Municipal Corp. (AGM) insures, is 'BBB-' with a stable outlook. Our rating on the $195 million Series 2007A-3 bonds is 'BBB-' with a stable outlook. We base the bonds' 'AA' ratings on a bond insurance policy from AGM. Although the bond insurance policies remain in place, the long-term component of our rating now also reflects the joint rating. The short-term component of our
