Fitch assigns AAA/F1+ to reoffering from Hospital Sisters Services, Ill. and Wis.

Fitch Ratings said it will confirm the AAA long-term rating and assign an F1+ short-term rating to $284.025 in revenue bonds issued for Hospital Sisters Services, which plans to convert the interest rate on the bonds from an auction-rate mode to a weekly rate mode and reoffer them.

The rating applies to the $65.55 million series 2003A and $100.425 million series 2007C issued by the Illinois Finance Authority, as well as the $76.75 million series 2007B-1 and $41.3 million series 2007B-2 issued by the Wisconsin Health and Educational Facilities Authority.

Series 2003A matures Dec. 1, 2023; the other series mature on March 15, 2036.

All the bonds are to be converted and reoffered on June 17.

The short-term F1+ rating is based on standby bond purchase agreements provided by Harris Bank (for series 2007B-1) and by JPMorgan Chase Bank, NA for the remaining bonds.

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