Standard&Poor's Rating Services assigned its 'AAA/A-1+' rating to Philadelphia Authority for Industrial Development, Pa.'s multimodal lease revenue refunding bonds 2007 series B. The long-term component of the rating is based on a bond insurance policy provided by Financial Guaranty Insurance Co. (AAA). The long-term component of the rating represents the likelihood that debt service will be paid over the life of the issue. The short-term component of the rating represents the likelihood of payment of tenders and reflects a liquidity facility provided severally by JPMorgan Chase N.A. (A-1+) and Bank of New York (A-1+). The liquidity facility, which is a SBPA, shall provide coverage for principal and 39 days of interest for the first interest payment date and
