NEW YORK (Standard&Poor's) March 13, 2013--Standard&Poor's Ratings Services today raised its short-term rating on Connecticut Health and Educational Facilities Authority's $8.575 million variable-rate demand revenue bonds series A (for the Pierce Memorial Baptist Home Inc. project) due July 1, 2042, to 'A-1+' from 'A-1'. At the same time, we withdrew our long-term 'A' rating on the bonds. Today's rating actions follow the defeasance of the series A bonds, which are scheduled to be redeemed on March 26, 2013. The short-term 'A-1+' rating reflects our opinion that the cash held in the escrow account is sufficient to make full and timely interest and principal payments when the bondholders have exercised the put option and on the March
