Standard&Poor's Ratings Services lowered its rating on seven Capital One N.A. letter of credit (LOC)-backed issues to 'BBB+/A-2' from 'A-/A-2' and subsequently removed them from CreditWatch with negative implications. This action follows Standard&Poor's downgrade of Capital One N.A. to 'BBB+/A-2' from 'A-/A-2' and subsequent removal of the rating on Capital One N.A. from CreditWatch with negative implications. Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009