The 'AAA' rating on Cuyahoga County, Ohio's industrial development refunding revenue bonds series 1991 (University Health Care Center project) has been affirmed. The bonds are secured by a mortgage loan, which is insured by FHA under section 232 of the National Housing Act. The rating continues to reflect: Credit support in the form of investment agreements with Bayerische Landesbank ('AAA'); A debt service reserve fund sufficient to meet liquidity shortfalls in the event of a mortgage note default; Sufficiency of mortgage payments and investment earnings to meet full and timely debt service; and An asset-to-liability ratio of 104.37% as of April 21, 2003. The bonds were issued to refund a prior series 1981 issue. The University Health Care Center is
