Fitch assigns AAA/F1+ to Mercy Hospital bonds

Fitch Ratings said it confirmed its long-term AAA rating on the $68.4 million series 2006H revenue bonds issued by the Maine Health and Higher Educational Facilities Authority for Mercy Hospital and assigned a short-term F1+ rating to the bonds.

The rating actions came in connection with the conversion of the interest rate mode on the bonds to a weekly rate mode from the auction-rate mode and provision of a standby bond purchase agreement from Wachovia Bank NA. The conversion of the interest rate mode and reoffering of the bonds was scheduled to occur on July 10.

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