Fitch Places ACA-Insured Bonds On Rating Watch Negative.

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 30, 2001

Following its placement of ACA Financial Guaranty Corp.'s (ACA) insurer financial strength rating of `A' on Rating Watch Negative, Fitch correspondingly places the long-term rating of ACA-insured bonds on Rating Watch Negative.

These bonds represent additional maturities of those placed on Rating Watch Negative yesterday.

This action pertains solely to the bonds' long-term enhanced rating, which is based exclusively on bond insurance furnished by ACA. It is not a reflection of the issuers' underlying creditworthiness.

All ACA-insured bonds carry a Fitch long-term enhanced rating of `A', and many also carry a Fitch long-term unenhanced rating as indicated. Only the Fitch long-term enhanced rating is affected by this action. The affected issues are listed below.

For more information, see Fitch research dated Jan. 24, 2001.

-- Area Cooperative Educational Services (CT) (Staff Development/Administration
Facility), GO bonds due July 15, 2001-2013;

-- Bedford Park (IL), wtr rev bonds ser 2000A due Dec. 15, 2012-2014, 2016;

-- Bedford Park (IL), wtr rev bonds ser 2000B due Dec. 15, 2002-2005, 2008;

-- Calipatria Unified School District (CA) (Election of 1995), GO bonds ser
2000B due Aug. 1, 2003-2010, 2014;

-- Clearwater Housing Authority (FL) (The Hamptons at Clearwater), hsg rev rfdg
bonds ser 1997 due May 1, 2001- 2004, 2013, 2018;

-- Colorado Health Facilities Authority (CO) (National Jewish Medical Center
Proj), health facil rev bonds ser 1998 due Jan. 1, 2028 (`BBB' unenhanced);

-- Colorado Health Facilities Authority (CO) (Vail Valley Medical Center Proj),
rev bonds ser 1995A due Jan. 15, 2013

-- Connecticut Health & Educational Facilities Authority (CT) (Windham
Community Memorial Hospital Issue), rev bonds ser 1996C due July 1, 2011
(`BBB-' unenhanced);

-- Connecticut, State of (CT) (Bradley International Airport), special oblig
pkg rev bonds ser 2000A due July 1, 2007-2010, 2012, 2018;

-- Delaware County Authority (PA) (Crozer-Chester Medical Center Obligated
Group), hosp rev bonds ser 1998 due Dec. 1, 2018, 2027;

-- Duarte (CA) (City of Hope National Medical Center), COPs ser 1999A due April
1, 2007, 2009, 2019, 2024 (`BBB+' unenhanced);

-- Halifax Hospital Medical Center (FL) (Halifax Management System Inc. Proj),
health care facils rev bonds ser 1998A & 1998B due April 1, 2001-2012;

-- Hobbs (NM) (Washington Place Apartments Proj), multifamily hsg rfdg & improv
bonds ser 2000A due Mar. 15, 2011;

-- Hutchinson (MN), tax medical facils gross rev bonds ser 1998 due Feb. 1,
2001-2008, 2011;

-- Illinois Health Facilities Authority (IL) (Midwest Physician Group Ltd.),
rev rfdg bonds ser 1998 due Nov. 15, 2008 (`BBB-' unenhanced);

-- Manchester Housing & Redevelopment Authority (NH), capital appreciation rev
bonds ser 2000B due Jan. 1, 2016- 2029;

-- Manchester Housing & Redevelopment Authority (NH), current interest rev
bonds ser 2000A due Jan. 1, 2003-2014;

-- Maricopa County Industrial Development Authority (AZ) (Horizon Community
Learning Center Proj), educ rev bonds ser 2000 due June 1, 2026;

-- Massachusetts Development Finance Agency (MA) (Boston Architectural Center),
rev bonds ser 1998 due Sept. 1, 2018;

-- Massachusetts Development Finance Agency (MA) (Northern Berkshire Community
Service Inc.), rev bonds ser 1999A due Aug. 15, 2006-2011, 2019, 2025;

-- Massachusetts Health & Educational Facilities Authority (MA) (East Concord
Medical Foundation Issue), rev bonds ser A due Mar. 1, 2010;

-- Miami Beach Health Facilities Authority (FL) (South Shore Hospital & Medical
Center Proj), hosp rev bonds ser 1998 A & B due Aug. 1, 2003, 2008, 2013;

-- Missouri Health & Educational Facilities Authority (MO) (Freeman Health
System Proj), health facils rev bonds ser 1998 due Feb. 15, 2007-2008;

-- Montgomery County (OH) (Grandview Hospital & Medical Center), hosp facil
rfdg rev bonds ser 1997 due Dec. 1, 2009;

-- New Jersey Economic Development Authority (NJ) (Cadbury Corp. Proj), 1st
mtge rev fixed rate bonds ser 1998 A & B due July 1, 2003, 2005, 2018, 2027;

-- New Jersey Health Care Facilities Financing Authority (NJ) (Palisades
Medical Center of New York Presbyterian Healthcare System Obligated Group), rev
bonds ser 1999 due July 1, 2009-2011, 2014, 2019 (`BBB-' unenhanced);

-- North Carolina Eastern Municipal Power Agency, pwr sys rev bonds rfdg ser
1993B due Jan. 1, 2006 (`BBB+' unenhanced);

-- North Carolina Eastern Municipal Power Agency, pwr sys rev rfdg bonds ser
1999B due Jan. 1, 2015 (`BBB+' unenhanced);

-- North Carolina Medical Care Commission (NC) (North Carolina Housing
Foundation, Inc.), rev bonds ser 2000 due Aug. 15, 2010, 2020;

-- Northern Mariana Islands, Commonwealth of (MP), GO bonds ser 2000A due June
1, 2004-2010, 2014;

-- Puerto Rico, Commonwealth of (PR), public improv bonds ser 1999 due July 1,
2006;

-- Rail Connections, Inc. (MA), pkg garage rev bonds ser 1999B due July 1,
2019-2020 (`BBB-' unenhanced);

-- San Francisco Bay Area Transit Financing Authority (CA), bridge toll notes
ser 1999 due Feb. 1, 2001-2006, Aug. 1, 2001-2006;

-- Savannah Economic Development Authority (GA) (The University Financing
Foundation Inc. -- Savannah State University Proj), student hsg rev bonds ser
2000A due Nov. 15, 2010-2011, 2020;

-- Show Low Improvement District No. 6 (AZ), improv bonds due Jan. 1, 2010;

-- Show Low Improvement District No. 6 (AZ), supplemental interest ctfs due
July 1, 2001;

-- Show Low Industrial Development Authority (AZ) (Navapache Regional Medical
Center), hosp rev bonds ser 1998 A & B due Dec. 1, 2001-2013;

-- South Dakota Health & Educational Facilities Authority (SD) (Prairie Lakes
Health Care Systems Issue), rev rfdg bonds ser 1998 due April 1, 2008, 2013;

-- Teton County Hospital District (WY), hosp rfdg & improv rev bonds ser 1998
due Dec. 1, 2017;

-- Utica (NY), public improv bonds ser 2000 due Jan. 15, 2002-2014 (`BB'
unenhanced);

-- Virgin Islands Public Finance Authority (VI) (Virgin Islands Matching Fund
Loan Notes), rev & rfdg bonds ser 1998A due Oct. 1, 2018, 2022;

-- Virgin Islands Public Finance Authority (VI) (Virgin Islands Matching Fund
Loan Notes), rev & rfdg bonds ser 1998C due Oct. 1, 2006;

-- Virgin Islands Water & Power Authority, elect sys rev & rfdg bonds ser 1998
due July 1, 2013, 2018, 2021 (`BBB' unenhanced);

-- Washington County Housing & Redevelopment Authority (MN) (HealthEast Proj),
hosp facil rev bonds ser 1998 due Nov. 15, 2018 (`BBB-' unenhanced);

-- White Earth Band of Chippewa Indians (MN), rev bonds ser 2000B due Dec. 1,
2003-2004;

-- Wisconsin Health & Educational Facilities Authority (WI) (Hess Memorial
Hospital Association Inc. Proj), rev bonds ser 1995 due Nov. 1, 2005;

-- Wisconsin Health & Educational Facilities Authority (WI) (Richland Hospital
Inc. Proj), rev bonds ser 1998A & 1998B due June 1, 2001-2003, 2008, 2016;

-- Woodbury County (IA) (Boys & Girls Home & Family Services Inc. Proj),
community provider rev bonds ser 2000 due Dec. 1, 2012, 2018.