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Fitch: Rtg Actions For 24 First Union/Wachovia Supported Issues.

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 8, 2001

Following rating adjustments for First Union National Bank and Wachovia Bank, Fitch, the international rating agency, revises its ratings on 24 issues supported by these banks.

The affected bonds, listed below, are also removed from Rating Watch. For additional information, see Fitch's press release dated Sept. 4, 2001.


--Baltimore County (MD) (Oak Crest Village, Inc. Proj) rev bonds
 series 1999A (LOC: First Union National Bank) 'A+/F1';

--Baltimore County (MD) (Oak Crest Village, Inc. Proj), rev bonds
 series 1999B (LOC: First Union National Bank) 'A+/F1';

--Bowie Assisted Living, LLC (MD), var-rate demand bonds series 1997
 (LOC: First Union National Bank) 'A+/F1';

--Collier County Health Facilities Authority (FL) (Moorings, Inc.
 Proj), health facils rev bonds series 2000 (LOC: First Union
 National Bank) 'A+/F1';

--Collier County Industrial Development Authority (FL) (Community
 Health Care, Inc. Obligated Group), health facils rev bonds series
 1999A (LOC: First Union National Bank) 'A+/F1';

--Collier County Industrial Development Authority (FL) (Community
 Health Care, Inc. Obligated Group), health facils rev bonds series
 1999B (LOC: First Union National Bank) 'A+/F1';

--Collier County Industrial Development Authority (FL) (Community
 Health Care, Inc. Obligated Group), health facils rev bonds series
 1999C (LOC: First Union National Bank) 'A+/F1';

--Dauphin County General Authority (PA) (Reading Hospital & Medical
 Center Proj), var-rate demand rev bonds series 1994A (LOC: First
 Union National Bank) 'A+/F1';

--Educational Facilities Authority for Private Nonprofit Institutions
 of Higher Learning (SC), var-rate demand bonds series 1996B
 (liquidity facility: Wachovia Bank, N.A.) 'F1';

--Florida Gulf Coast Foundation, Inc., COPs series 2000 (LOC: First
 Union National Bank) 'A+/F1';

--Florida Municipal Power Agency (FL) (Stanton II Project), var-rate
 demand rfdg rev bonds series 1997 (insured: Ambac) (liquidity
 facility: First Union National Bank) 'AAA/F1';

--Halifax County Industrial Development Authority (VA) (O'Sullivan
 Industries-Virginia, Inc. Proj), industrial devel rev rfdg bonds
 series 1998 (LOC: Wachovia Bank, N.A.) 'A+/F1';

--Maryland Health & Higher Educational Facilities Authority (MD)
 (Charlestown Community Issue), rev bonds series 1998A (LOC: First
 Union National Bank) 'A+/F1';

--Maryland Health & Higher Educational Facilities Authority (MD)
 (Charlestown Community Issue), rev bonds series 1998B (LOC: First
 Union National Bank) 'A+/F1';

--Norfolk Industrial Development Authority (VA) (Children's Hospital
 of the King's Daughters, Inc. Proj), health facils rev & rfdg
 bonds series 1999 (LOC: Wachovia Bank, N.A.) 'A+/F1';

--Oakland-Alameda County Coliseum Authority (CA) (Oakland Coliseum
 Proj), lease rev rfdg bonds series 2000D (LOC: First Union
 National Bank) 'A+/F1';

--Orange County Special Financing Authority (CA), Teeter Plan rev
 bonds series 1995A (insured: Ambac) (liquidity facility: First
 Union National Bank) 'AAA/F1';

--Orange County Special Financing Authority (CA), Teeter Plan rev
 bonds series 1995B (insured: Ambac) (liquidity facility: First
 Union National Bank) 'AAA/F1';

--Orange County Special Financing Authority (CA), Teeter Plan rev
 bonds series 1995C (insured: Ambac) (liquidity facility: First
 Union National Bank) 'AAA/F1';

--Orange County Special Financing Authority (CA),Teeter Plan rev bonds
 series 1995D (insured: Ambac) (liquidity facility: First Union
 National Bank) 'AAA/F1';

--Orange County Special Financing Authority (CA),Teeter Plan rev bonds
 series 1995E (insured: Ambac) (liquidity facility: First Union
 National Bank) 'AAA/F1';

--Tampa (FL) (Tampa Preparatory School, Inc. Proj), var-rate demand
 rev bonds series 2000 (LOC: Wachovia Bank, N.A.) 'A+/F1';

--University of North Carolina System Board of Governors (NC)
 (Centennial Campus Projs), var-rate rev bonds series 1999A
 (insured: FSA insured) (liquidity facility: First Union National
 Bank) 'AAA/F1';

--University of North Florida Foundation, Inc. (FL), capital improv
 rev bonds series 2000 (LOC: First Union National Bank) 'A+/F1'.
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Publication:Business Wire
Date:Oct 8, 2001
Words:587
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