The rating on Philadelphia Authority for Industrial Development, Pa.'s bonds, issued for Inglis House Foundation, was changed to 'AA-/A-1' from 'AA-/A-1c' primarily due to amendments made to the trust indenture and the SBPA that provide for a mandatory tender instead of an automatic termination of the liquidity facility in the event that the long-term credit rating of the obligor falls below investment grade. The bonds are subject to conversion from a weekly interest rate to a flexible interest rate effective March 2, 1998. The SBPA covers purchase price for tendered bonds and up to 180 days' interest calculated at the maximum rate of 12%. The SBPA expires on May 12, 1999 unless terminated earlier according to its terms.
