Standard&Poor's Ratings Services placed its ratings on Pittsburgh Water&Sewer Authority, Pa.'s water and sewer subordinate variable-rate demand bonds series 2008C-1A, 2008C-1B, and 2008C-1C on CreditWatch with negative implications. This action follows Standard&Poor's July 15, 2011, placement of its rating on Federal Home Loan Bank of Pittsburgh on CreditWatch with negative implications. 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, June 25, 2007