S&P gives A-1+ to Partners Healthcare, Mass., 2003 bonds

Standard & Poor's said it assigned an A-1+ short-term rating to Massachusetts Health and Educational Facilities Authority's $150 million of series 2003D1 and 2003D2 revenue bonds, issued for Partners Healthcare System Inc., reflecting a mode change to variable-rate demand bonds.

At the same time, S&P said it affirmed the AA long-term rating on the bonds.

Partners is converting the $71 million of series 2003D1 bonds and $79 million of series 2003D2 bonds, previously issued as unenhanced auction-rate bonds, to daily mode and weekly mode, respectively. Potential puts will be supported by Partners' own liquidity.

The outlook is stable.

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