S&P gives AA- to Children's Hospital of Wis. bonds

Standard & Poor's said it assigned its AA- standard long-term rating to Wisconsin Health and Educational Facilities Authority's $101.2 million series 2008A fixed-rate bonds issued for Children's Hospital of Wisconsin Inc.

The hospital also expects to issue $152.3 million of series 2008B revenue bonds in a few weeks. The outlook is stable.

The proceeds will be used to refund $100 million of the series 2007-1 and 2007-2 bonds and the series 2008B bonds are expected to refund the series 2007-3 bonds and the series 2004B-1 and B-2 bonds. Additionally, the series 2008B bonds will incorporate about $2 million in new debt to pay for new projects.

S&P also affirmed its AA- rating on the authority's series 2004A fixed-rate revenue refunding bonds; series 2007-1, 2007-2, and 2007-3 auction-rate securities; and series 2004B-1 and 2004B-2 periodic auction-reset security bonds issued for Children's Hospital of Wisconsin.

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