The rating assigned to Richmond Hospital Authority, Ind.'s bonds issued on behalf of Reid Hospital&Health Services Inc., is based on an irrevocable direct-pay LOC provided by U.S. Bank N.A. The LOC, which is in effect from Jan. 2, 2002, through its initial expiration date of Jan. 8, 2003, unless terminated earlier pursuant to its terms, covers purchase price of tendered but unremarketed bonds as well as principal of, and up to 45 days' interest calculated at the maximum rate of 10%, on the bonds. The bonds were initially issued in 1998 in the long-term mode, and are being remarketed to bear interest in the weekly mode as of Jan. 2, 2002. They will initially be re-offered in the
