NEW YORK (Standard&Poor's) July 21, 2011--Standard&Poor's Ratings Services today lowered its ratings on three bond issues related to Rest Haven Christian Services to 'A/A-1' from 'AA/A-1+' (see list). Our ratings on the bonds reflect our opinion of the credit and liquidity support that Sovereign Bank provides for the bonds in the form of irrevocable direct-pay letters of credit (LOCs). The long-term components of our ratings are based on our long-term issuer credit rating on Sovereign Bank ('A') and address full and timely payments of interest and principal when the bondholders have not exercised the put option. The short-term components of our ratings are based on our short-term issuer credit rating on Sovereign Bank ('A-1') and address
