Fitch to Downgrade L-T & Confirm S-T Rtgs on Colorado Hlth Facilities Auth 2005 Adj R

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    • Jan 2009
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    Fitch to Downgrade L-T & Confirm S-T Rtgs on Colorado Hlth Facilities Auth 2005 Adj R

    Effective Dec. 17, 2009, Fitch Ratings will downgrade the long-term rating to 'A+' from 'AA-' and confirm the short-term rating at 'F1+' assigned to the $13,500,000 Colorado Health Facilities Authority adjustable rate revenue bonds (National Jewish Medical and Research Center Project) series 2005.The rating action is in connection with the substitution of an irrevocable, direct-pay letter of credit (LOC) provided by JPMorgan Chase Bank, N.A. (rated 'AA-/F1+') supporting the bonds with a LOC provided by UMB Bank, n.a. (rated 'A+/F1+'). J.P. Morgan continues as remarketing agent for the bonds.Commencing Dec. 17, 2009, the effective date of the substitute LOC, UMB

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