Bangkok--4 Sep--Standard & Poor's
Standard & Poor's Ratings Services corrected and lowered its rating on Bruce Township Hospital Finance Authority, Mich.'s series 1995 bonds, issued for Catholic Health Initiatives, Colo., to 'A/Developing' from 'AA-/Negative'. These bonds are guaranteed by a bond insurance policy from National Public Finance Guarantee Corp (National; A/Developing). However, we incorrectly did not include these bonds in our rating action on June 5, 2009, when we lowered the rating on National to 'A', with a developing outlook, and removed from it CreditWatch with developing implications (see "Research Update: National Public Finance Guarantee Corp. Ratings Lowered to 'A'; MBIA Insurance Corp. Ratings Lowered to 'BBB'," published June 5, 2009, on RatingsDirect).
Complete ratings information is available to RatingsDirect subscribers at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com; select your preferred country or region, then Ratings in the left navigation bar, followed by Find a Rating.
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