S&P Global Ratings' underlying rating on Jets Stadium Development LLC's $200 million series 2007A-1 bonds, $195 million series 2007A-3 bonds, and $255 million series 2007A-4 bonds is 'BBB-' with a stable outlook. The series 2007A-1 and 2007A-4 bonds have a bond insurance policy from Assured Guaranty Municipal Corp. (AGM). The series 2007A-4 bonds also benefit from a letter of credit provided by Sumitomo Mitsui Banking Corp. As a result, the enhanced rating on the series 2007A-1 bonds is AA/Stable. The series 2007A-4 bonds have a dual enhanced rating of 'AA/A-1' due to the combination of the AGM policy for the long-term component and the Mitsui letter of credit for the short-term component. The series 2007A-3 bonds have a bond insurance
