The rating on Vermont Educational and Health Buildings Financing Agency's variable-rate demand hospital revenue bonds (Gifford Medical Center Project) 2006 series A is based on an irrevocable transferable LOC provided by Keybank N.A. ('A/A-1'). The LOC covers principal of, and interest on, the bonds and purchase price for unremarketed tendered bonds. The anticipated expiration date of the LOC is June 1, 2009, unless extended or earlier terminated pursuant to its terms. Initially, the bonds will be issued in the weekly interest mode, but may be converted to a daily, extended, or fixed interest rate mode. Holders may tender their bonds in the weekly, daily, or extended rate modes upon providing appropriate notice. The LOC is initially sized to cover the
