Standard&Poor's Ratings Services assigned its 'AA-/A-1+' rating to Philadelphia Authority for Industrial Development, Pa.'s variable-rate demand revenue bonds series A-2 and A-3 based on a letter of credit (LOC) provided by Citizens Bank of Pennsylvania. The LOC will be drawn to pay debt service on the bonds, and is available to pay shortfalls in a mandatory or optional tender if there are insufficient remarketing proceeds. The bonds will be issued in a weekly mode. There are no other interest rate modes possible. During the weekly rate, the bondholders will have a seven-day put option. The bonds pay interest monthly on the first business day of each month. The bonds are callable due to mandatory and optional redemptions, as
