S&P rates St. Luke's Episcopal Hospital, Texas, bonds AA-

Standard & Poor's said it assigned an AA- long-term rating to Harris County Health Facilities Development Corp., Texas' $200 million of series 2008A and 2008B variable-rate demand bonds issued for St. Luke's Episcopal Hospital.

The issue includes $100 million of series 2008A and $100 million of series 2008B.

The entire series 2008 will have a standby bond purchase agreement from Bank of America NA, Wachovia Bank NA and JPMorgan Chase Bank NA.

S&P expects to rate the entire series 2008 bonds AA-/A-1+.

S&P also said it affirmed the AA- long-term rating on series 2001A, 2002, 2005A bonds and the AA-/A-1+ on series 2001B bonds.

The outlook is stable.

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