Standard&Poor's Ratings Services affirmed its 'AAA/A-1+' rating on Philadelphia Authority for Industrial Development, Pa.'s (Philadelphia) multimodal lease revenue refunding bonds series 2007B due to the bank facility being extended to June 1, 2011. The long-term component of the rating is based jointly on the rating of the obligor, Philadelphia, and severally by letter of credit providers, JPMorgan Chase Bank N.A. and The Bank of New York Mellon. The short-term component of the rating is based severally on JPMorgan Chase Bank N.A. and The Bank of New York Mellon. Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009 Criteria: Joint Support Criteria Update, April 22, 2009 USPF Criteria: Municipal Applications For Joint Support Criteria,
