The 'AA+' rating on bonds and parity guaranties, issued through various issuers for Mayo Foundation and its controlled affiliates, reflects Mayo's: * Extremely strong business profile; * Substantial cash flow and liquidity for capital investment and debt repayment; and * Financial policies and business strategies that are effectively balancing growth with profitability. The 'A-1+' short-term rating component assigned to $90 million series 1992A-C bonds reflects Mayo's liquidity. Credit Suisse SBPAs provide liquidity for the series 1985, 1988E and 1988F variable rate demand revenue bonds. The Foundation, doing business as Mayo Clinic, is one of the nation's premier integrated health systems with group practices in Rochester, Minn., Jacksonville, Fla., and Scottsdale, Ariz., nine hospitals and numerous businesses engaged in health care
