The rating on Cuyahoga County, Ohio's bonds reflects: Credit support in the form of investment agreements with Bayerische Landesbank Girozentrale ('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 104.28% as of June 8, 2000. The bonds were issued to refund a prior series 1981 issue. The University Health Care Center is a 208-bed nursing facility located in Cleveland, Ohio. The bonds are secured by a mortgage loan, which is insured by FHA under section 232 of the National Housing Act. Accordingly, should the mortgagor default under his obligations under the
