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S&P corrects Julian Union High School District's GO series 1996 bonds

Posted on: Wed, 18 Nov 2009 08:46:00 EST

Symbols: MBI

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Nov 18, 2009 (M2 PRESSWIRE via COMTEX) --
MBI | Quote | Chart | News | PowerRating -- 18 November 2009 - S&P on Tuesday cut to A with a "developing" outlook
from AAA with a "negative" outlook its rating on Julian Union High
School District, California's series 1996 general obligation (GO)
bonds, correcting an administrative error.

The bonds are guaranteed by an insurance policy from National Public
Finance Guarantee Corp, formerly known as MBIA Insurance Corp, which
assumed the US public finance book of business from MBIA Insurance Corp.

However, the rating service inadvertently did not link the rating on
the bonds to the rating on the insurance policy provider, prompting the
correction.

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