Standard&Poor's Ratings Services affirmed its 'A-1+' short-term component of the rating on Richmond Hospital Authority, Ind.'s (Reid Hospital project) variable-rate health revenue bonds series 2005A based on an FSA insurance policy and a standby bond purchase agreement (SBPA) provided by JP Morgan Chase Bank. The 'AAA' long-term component of the rating remains on CreditWatch with negative implications as a result of FSA. The affirmation reflects our review of documentation as it relates to a conditional forbearance agreement entered into between the obligor and the bank. Such documentation, including an amendment to the SBPA, does not, in our opinion, negatively affect the liquidity enhancement provided by the bank. For further information regarding the SPUR, please see the last published
