Standard&Poor's Ratings Services changed its rating to 'AAA/A-1+' from 'AAA' on Maricopa County Industrial Development Authority, Ariz.'s adjustable-rate senior living facilities revenue refunding bonds, series 2005A, issued on behalf of Christian Care's Fellowship Square-Phoenix, Oasis Assisted Living-Phoenix, and Fellowship Square-Mesa projects. The revised rating reflects the conversion of the interest rate on the bonds to a weekly variable rate from the current reset rate on Dec. 15, 2010. The rating continues to reflect our view of the strong credit and liquidity enhancement of the bonds provided by a direct-pay credit facility from Fannie Mae. In addition, we affirmed our 'BBB' rating on the authority's subordinate senior living facilities revenue refunding bonds, series 2005B. The outlook is stable. We
