Standard&Poor's Ratings Services affirmed its 'AA/A-1+' rating on Rochester, Minn.'s $42.235 million series 1988 E and F adjustable-rate tender health care facilities revenue bonds, issued on behalf of Mayo Foundation (Mayo). The outlook is stable. The 'AA' long-term component of the rating reflects Mayo's credit strength and its unique business position as one of the world's largest integrated health delivery systems. Its headquarters are in Rochester. The 'A-1+' short-term component of the rating reflects the sufficiency of Mayo's investment portfolio to guarantee the timely purchase of any secured variable-rate demand obligations that are tendered in the unlikely event of a failed remarketing. These bonds are currently secured by an SBPA from JPMorgan Chase Bank, the successor to The
