Standard&Poor's Rating Services affirmed its 'AAA' rating on the County of Maricopa Industrial Development Authority (IDA) and the City of Phoenix IDA, Ariz.'s single-family mortgage revenue bonds, series 2001 1A-1B, and removed the bonds from CreditWatch with negative implications. The bonds receive partial credit support in the form of a guaranteed investment contract (GIC) provided by AIG Matched Funding Corp. (guaranteed by American International Group Inc.) for the bonds' revenue fund. Despite the lowering of AIG's rating to 'AA+', and its placement on CreditWatch with negative implications, the bonds were affirmed at 'AAA' based on the County of Maricopa IDA's and the City of Phoenix IDA's ability to optionally terminate the GICs upon a further lowering of AIG's
