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Moody's revises Partners Healthcare, Mass., rating to Aa2/VMIG 1
Moody's Investors Service said it revised to Aa2/VMIG 1 from Aa2 the ratings for up to $300 million of Partners Healthcare System bonds, issued by the Massachusetts Health & Educational Facilities Authority, that are anticipated to be secured by the internal liquidity of Partners.
Moody's said that $71 million of series 2003D-1 bonds are being converted from 35-day auction mode to daily variable-rate demand bond (VRDB) mode, and $79 million of series 2003D-2 bonds are being converted to weekly VRDB mode.
Also being considered for future conversion that may be supported by self-liquidity are $75 million of series 2007G-1 and $75 million of series 2007G-3 bonds, which are currently FGIC-insured.
The outlook is stable.
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