Standard&Poor's Ratings Services confirmed its 'AAA/A-1+' rating on Philadelphia's (Philadelphia International Airport) series 2005C airport revenue refunding bonds, due to the bank facility being extended to Dec. 23, 2019. The long-term component of the rating is based jointly (assuming low correlation) on the ratings on the obligor, Philadelphia International Airport, and the letter of credit provider, TD Bank N.A. The short-term component of the rating is based solely on the rating on TD Bank N.A. USPF Criteria: Municipal Applications For Joint Support Criteria, June 25, 2007 Criteria: Joint Support Criteria Update, April 22, 2009 Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009
