Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to Wachovia MERLOTS, Pa.'s series 2007J01 relating to City of Philadelphia, Pa.'s general obligation bonds, series 2001. The 'AAA' long-term component of the rating is based on the FSA-insured underlying bond. The 'A-1+' short-term component of the rating is based on the liquidity facility provided by Wachovia Bank N.A. until Nov. 14, 2008. The stable outlook is based on the bond insurer.