Summary: Rhode Island Health and Educational Building Corp.

The 'AAA' rating on Rhode Island Health and Educational Building Corp.'s revenue refunding bonds Roger Williams Realty Corp. issue (FHA-insured mortgage) series 1999 has been affirmed. The bonds are secured by a mortgage loan, which is insured by FHA under section 232 of the National Housing Act. Other rating factors include: The quality of the mortgage loan collateral, Sufficiency of reserves to cover any potential shortfalls, Sufficiency of assets and revenues to pay debt service and expenses, An asset-to-liability position of 106.08% as of Dec. 4, 2002, and Quality of investments. The bonds were issued to refund a prior series of bonds. The project is a 185-bed skilled nursing facility located in Providence, R.I. The mortgage loan is insured by

...The '###' rating on Rhode Island Health and Educational Building Corp.'s revenue refunding bonds Roger Williams Realty Corp. issue (FHA-insured mortgage) series 1999 has been affirmed. The bonds are secured by a mortgage loan, which is insured by FHA under section 232 of the National Housing Act. Other rating factors include: + The quality of the mortgage loan collateral, + Sufficiency of reserves to cover any potential shortfalls, + Sufficiency of assets and revenues to pay debt service and expenses, + An asset-to-liability position of 106.08% as of Dec. 4, 2002, and + Quality of investments. The bonds were issued to refund a prior series of bonds. The project is a 185-bed skilled nursing facility located in Providence, R.I. The mortgage loan is insured by FHA under section 232 of the National Housing Act. Accordingly, should the mortgagor default under his obligations under the mortgage note, the trustee will be entitled to file for mortgage insurance benefits in debentures. In order...

Summary