NEW YORK (Standard&Poor's) Sept. 25, 2001—Standard&Poor's today assigned its double-'A'/'A-1'-plus rating to the Mayo Foundation's ("Mayo") $50 million health care facilities revenue bonds series 2001B and 2001D. Standard&Poor's also assigned its double-'A'/'A-1' rating to Mayo's $50 million health care facilities revenue bonds 2001A and 2001C. The double-'A' long-term ratings reflect this health system's world-renowned reputation, robust patient volumes and patient care revenue, and strong financial position. The Mayo Foundation's long-term rating, however, was lowered to double-'A' from double-'A'-plus on Sept. 5, 2001, reflecting a decline in Mayo's financial performance through the fiscal year ending Dec. 31, 2000, a reduction in days' cash on hand, and a slightly more aggressive capital structure that presents increased
