NEW YORK (Standard&Poor's) June 27, 2005--Standard&Poor's Ratings Services lowered its ratings on Lee Memorial Health System Board of Directors, Fla.'s $194 million bonds series 1985CD, 1992B, 1995A, and 1997, issued on behalf of Lee Memorial Health System, to 'A+/A-1' from 'A+/A-1+'. The outlook is stable. The ratings on the series 1985CD, 1992B, and 1995A bonds were lowered due to the application of the rating criteria of Standard&Poor's in connection with the June 24, 2005, substitution of the line of credit provided by Bank of America ('A-1+'). The rating on the series 1997 bonds was lowered due to the application of the same criteria in connection with the extension of the expiration date of the
