Standard&Poor's Ratings Services removed its 'AAA' rating on Maricopa County Industrial Development Authority, Ariz.'s taxable single-family mortgage revenue bonds (mortgage-backed securities program) series 2001A from CreditWatch with negative implications. At the same time, the rating was affirmed. On May 12, 2010, it was included in a rating action where we placed certain housing issues on CreditWatch with negative implications due to revised methodology for certain Federal Government-Enhanced housing transactions. Standard&Poor's received information that this issue is a monthly pass through and therefore, in our opinion, is not reliant on the fluctuations in investment earnings. USPF Criteria: Single-Family Mortgage-Backed Securities Programs, June 13, 2007
