Fitch rates three issuers' Essentia Health bonds AAA/F1+

Fitch Ratings said it assigned and AAA/F1+ rating to $293,495,000 of health care facilities variable-rate demand revenue bonds (Essentia Health Obligated Group) issued by the Minnesota Agricultural and Economic Development Board, the Wisconsin Health and Educational Facilities Authority and Cass County, N.D.

The Minnesota bonds consist of $40.65 million of series 2008C-3 bonds, $123,225,000 of series 2008C-4A bonds, $15.25 million of series 2008C-4B bonds and $40,295,000 of taxable convertible series 2008C-5 bonds.

There is $12,975,000 of Wisconsin bonds.

The Cass County bonds consist of $30.55 million of series 2008A-1 bonds and $30.55 million of series 2008A-2 bonds.

The long-term rating is based on insurance provided by Assured Guaranty Corp. The short-term rating is based on a standby purchase agreement provided by US Bank, NA.

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