S&P gives BBB to Fletcher Allen Health, Va., bonds

Standard & Poor's said it assigned a BBB underlying rating to Vermont Educational and Health Buildings Financing Agency's $51.43 million of series 2008A variable-rate hospital revenue refunding bonds issued for Fletcher Allen Health Care Inc.

At the same time, S&P said it affirmed the BBB underlying rating on the issuer's series 2004B1 and 2004B2 bonds issued for Fletcher.

S&P also said it affirmed the BBB rating and underlying rating on the agency's $56.37 million of series 2007A bonds, $96.21 million of series 2000A bonds and $50 million of series 2008B bonds.

Finally, S&P said it withdrew the BBB underlying rating and assigned a BBB rating to the agency's $44.98 million of series 2004A bonds, since those bonds are insured by Financial Guaranty Insurance Co., whose rating has fallen below that of the agency.

The outlook is positive.

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