The rating assigned to Vermont Educational and Health Building Financing Agency's variable-rate demand hospital revenue bonds, issued for Copley Hospital, reflects the provision of a confirming LOC issued by LaSalle Bank N.A., which confirms an LOC issued by Howard Bank. The LaSalle Bank confirming LOC expires April 2, 2005, one day after the Howard Bank LOC expires. Each facility provides coverage of principal plus 45 days' interest at a maximum rate of 10% on the bonds. The bonds initially will bear interest at a weekly variable rate, but upon mandatory tender may be converted to an extended-rate period or fixed-rate period. The bonds in a weekly mode are subject to optional and mandatory tender, optional and mandatory sinking fund, and
