S&P Corrects And Removes Presbyterian Healthcare Services, NM's Series 2008C And 2008D Bonds Rating From Watch Negative

Standard & Poor's Ratings Services removed its 'AA-/A-1+' rating on New Mexico Hospital Equipment Loan Council's series 2008C and 2008D variable-rate bonds, issued for Presbyterian Healthcare System (PHS), from CreditWatch with negative implications. On Nov. 24, 2008, Standard & Poor's placed the rating on the bonds on CreditWatch with negative implications due to an error. This followed Standard & Poor's Oct. 3, 2008, placement of Wells Fargo Bank on CreditWatch with negative implications, as it provides a liquidity facility supporting the short-term components of the dual ratings. However, Wells Fargo's 'A-1+' short-term component of the rating was not placed on CreditWatch with negative implications, as only the long-term component of the rating was affected. Complete ratings information is available to RatingsDirect on the Global Credit Portal subscribers at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column. Media Contact: Ana Sandoval, New York (1) 212-438-5095, [email protected] Analyst Contacts: Beatriz Peguero, New York (1) 212-438-2164 Ryan Butler, New York (1) 212-438-2122

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