Fitch assigns its 'AA+/F1+' rating to Colorado Health Facilities Authority's $14.7 million weekly adjustable rate revenue bonds and $1.3 million taxable weekly adjustable rate revenue bonds. The rating is based on support provided by irrevocable, direct-pay confirming letters of credit issued by Citibank, N.A. that provide over 51 times coverage of principal and interest. Bond proceeds will be used to refund prior bonds and finance costs of acquiring, constructing, renovating and equipping health facilities for Christian Living Communities.

1. Fitch Rates Colorado Health Facilities 2006C Christian
Living VRDBs 'AA+/F1+'
NEW YORK--(BUSINESS WIRE)--Fitch assigns any rating involving 'AA+/F1+' towards the Colorado
health Facilities
Authority's $14,685,000 once a week adjustable price income bonds (Christian
Living Communities Project), series 2006C-1 and also $1,315,000 taxable
weekly adjustable rate income bonds (Christian Living Communities
Project), series 2006C-2. The Particular rating is based around the support supplied by
a pair of separate irrevocable, direct-pay confirming letters involving credit score
(CLOCs) issued by simply Citibank, N.A.
the CLOCs offer total coverage associated with principal along with curiosity comparable to 51
times calculated with a maximum charge of 8% for that series 2006C-1 and also 10%
for that Series 2006C-2, according to per year of 365 days, plus purchase
price. The Actual underlying irrevocable, direct-pay letters involving credit score (LOCs)
issued through Sovereign Bank, supply the identical coverage because the CLOCs. both
CLOCs will expire about Nov. 15, 2007 using automatic one-year extensions in
the particular confirming bank's option up to Nov. 15, 2011. Fitch's rating will
expire on the earlier occurrence in the expiration date of the CLOCs,
just about any prior termination in the CLOCs, or even defeasance in the bonds. Your
remarketing agent for your bonds can be Ziegler Money Markets Group. Your
bonds are expected being delivered on as well as concerning November 17, 2006.
The Particular bonds initially bear fascination inside the weekly interest charge mode nevertheless
may always be converted into a fixed-interest price mode. Whilst bonds bear
curiosity within the once a week curiosity price mode, interest can be payable about the
first enterprise day of each along with every and also every month, commencing Dec. 1, 2006.

2. Bondholders
could tender his or her bonds regarding buy upon any company day along with seven days'
prior discover for the trustee during the every week charge mode. Your bonds are usually
subject to mandatory tender upon conversion involving a person's eye charge mode,
on a company day at least fifteen days preceding the LOCs or CLOCs
expiration date, on the enterprise day right away preceding your efficient
date regarding any kind of Alternate LOC as well as Alternate CLOC, and subsequent discover
involving
non-reinstatement involving a person's eye component, or perhaps right after receipt through the
trustee involving an event of default discover beneath the LOC/CLOC.
The Actual trustee will draw on the CLOCs only when Sovereign Bank does not honor
any draw in its LOCs as well as repudiates its LOCs. The Particular CLOCs routinely
reinstate around the 8th day subsequent an fascination drawing unless the
trustee receives notice from the bank that will such interest element will
not really be reinstated.
The Particular CLOCs also reinstate pertaining to buy cost draws right away subsequent
reimbursement for the bank. Optional redemption provisions additionally affect
the actual bonds.
Bonds proceeds will possibly be used to refund:
-- spend or perhaps reimburse Christian Living Communities for your payment of
particular price regarding acquiring, constructing, renovating, remodeling as well as
equipping particular wellness facilities with the company; and

3. -- for you to presently refund your prior bonds.
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use regarding such ratings tend to be
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www.fitchratings.com.
published ratings, criteria along with methodologies are usually offered by this
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