The rating on Maricopa County Industrial Development Authority, Ariz.'s bonds has been revised based on the remarketing of the issue to a fixed rate of interest. The fixed rate will remain in effect until the maturity of the bonds. FNMA continues to provide credit to this issue through their collateral agreement and will pay missed mortgage note payments if the borrower fails to pay on the first of each month. FNMA will pay the trustee by the interest payment date provided appropriate notice was submitted to FNMA. Except for the ability of FNMA to call a mandatory tender upon an event of default, the bonds will not be subject to mandatory or optional tender. The bonds are still subject to
