Standard&Poor's Ratings Services revised its rating on Pennsylvania Housing Finance Agency's series 2003-79B bonds to 'AAA/A-1+' from 'AAA'. The bonds converted from auction-rate securities to variable-rate demand bonds on April 29, 2008. The long-term component of the rating reflects the rating of Financial Security Assurance Inc., the insurance provider covering principal and interest payments on the bonds. The short-term component of the rating reflects the rating of BNP Paribas, which is providing a standby bond purchase agreement (SBPA). The bonds also carry a 'AA+' Standard&Poor's underlying rating (SPUR) based on the parity resolution rating on these bonds. The SBPA will pay the price of tendered bonds in the event of a failed remarketing. The SBPA covers
