Standard&Poor's Ratings Services confirmed its 'AAA/A-1' rating on Mississippi Development Bank's (Harrison County) series 2008A-1, 2008A-2, and 2008B special obligation variable-rate demand refunding bonds, due to the bank facility being extended to Jan. 31, 2016. The long-term component of the rating is based jointly (assuming low correlation) on the ratings on the obligor, Harrison County, and the letter of credit provider, Bank of America N.A. The short-term component of the rating is based solely on the rating on Bank of America N.A. USPF Criteria: Municipal Applications For Joint Support Criteria, June 25, 2007 Criteria: Joint Support Criteria Update, April 22, 2009 Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009
