Standard and Poor's Ratings Services assigned its 'A' underlying rating (SPUR) to the Washington Health Care Facilities Authority's revenue bonds, series 2001A, issued on behalf of the Fred Hutchinson Cancer Research Center (FHCRC). The bonds, originally issued in the selection auction variable rate securities (SAVRS) mode and insured by Ambac, are now being converted to the weekly rate mode with a letter of credit (LOC) from Bank of America. In addition, Standard&Poor's affirmed its 'A' issuer credit rating (ICR) on the FHCRC. For additional information on the ICR, please see the article published April 4, 2008, on RatingsDirect. The rating on the reoffered series 2001A bonds reflects: The general obligation of the FHCRC; The center's strength as one
