S&P ups Yuma Regional Medical bonds to A+

Standard & Poor's said it raised its underlying ratings to A+ from A on the Yuma City Industrial Development Authority, Ariz.'s $52.725 million series 2004A, $56.3 million series 2004B and $1.47 million series 2001 hospital revenue bonds issued for Yuma Regional Medical Center. The outlook is stable.

The series 2004 bonds are being converted from auction-rate securities to variable-rate demand obligations with a standby bond purchase agreement provided by JPMorgan Chase (AA-). S&P said it expects to assign an AAA/A-1+ dual rating to the bonds based on the liquidity support.

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