Standard&Poor's Ratings Services affirmed its 'AAA' rating on Maricopa County Industrial Development Authority, Ariz.'s single-family mortgage revenue bonds series 1997. The bonds are secured by Ginnie Mae pass-through certificates. The rating continues to reflect: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; Extremely strong investment quality; and An asset-to-liability ratio of 109.33% as of Aug. 1, 2008. The rating reflects the strong credit quality of the assets and the credit support underlying the issue. The assets consist of Ginnie Mae guaranteed mortgage-backed securities, which are 'AAA' eligible under Standard&Poor's rating criteria. The revenue fund is invested in JPMorgan 100% U.S.
