Standard&Poor's Ratings Services has assigned its 'A-1' and 'A-1+' short-term ratings to Philadelphia, Pa.'s Philadelphia Gas Works tax-exempt commercial paper notes series 2012F-1 and 2012F-2, respectively, based on two separate letters of credit (LOCs) issued for each subseries as detailed below: 2012F-1: JPMorgan Chase Bank N.A. (A-1) 2012F-2: Wells Fargo Bank N.A. (A-1+) Each LOC is providing $30 million of coverage of principal plus interest on each subseries. The LOCs will initially expire on March 17, 2015, unless extended or earlier terminated in accordance with their terms. The notes are issued under one fiscal agent agreement, with separate accounts established for the exclusive use of each subseries. The fiscal agent is instructed not to issue notes that would
