The rating upgrade on Rhode Island Health&Educational Building Corp.s bonds, issued fore Roger Williams Realty Corp., reflects the issue's dependence on Citibank Investment Agreements covering the debt service reserve and bond funds. Standard&Poor's recently upgraded its rating on Citibank to `AA-/A-1+' from `A+/A-1'. The rating also reflects: * The strong credit quality of the mortgage note on the underlying Roger Williams Corp. project insured by FHA under section 232; * A strong asset-to-liability position of 104.84%, * Full and timely payment of debt service on the bonds, and * A fully funded reserve to cover debt service during the assignment process in the event of a mortgage note default. As of the Sept. 21, 1995 report
