Fitch rates Gundersen Lutheran, Wis., bonds AA/F1+

Fitch Ratings said it assigned a rating of AA/F1+ to the $89.3 million Wisconsin Health and Educational Facilities Authority variable-rate revenue bonds (Gundersen Lutheran), consisting of $27.9 million series 2008A and $61.4 million series 2008B.

The rating is based on the support provided by an irrevocable, direct-pay letter of credit issued by Wells Fargo Bank, NA securing the bonds.

The bonds are expected to be delivered around May 29.

Bond proceeds will be used to refinance the authority's variable-rate revenue bonds, series 2006 (Gundersen Lutheran).

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