Standard&Poor's Ratings Services raised its long-term rating on Rhode Island Health&Educational Building Corp.'s series 2009C pooled issue to 'AA' from 'AA-', reflecting the credit quality of the two borrowers under our local general obligation criteria released Sept. 12, 2013: the towns of Narragansett, R.I., and Scituate, R.I. The 2009C series are special obligations of the corporation, payable solely from the revenues pledged to the bonds, which include loan repayments and state school debt service support made by both communities. The obligation under the financing agreement is a general obligation pledge of the two respective towns. There is no step-up provision requiring one town to make any additional payments in the event of a payment default by
