Fitch Update on Impact of Hurricane Wilma on Florida Rated Health Care Credits.

NEW YORK -- Fitch has received updated information on its Florida health care credits listed below. Fitch reports that the all of the facilities are currently operating under normal power and have resumed normal operations following the effects of Hurricane Wilma (Wilma). Any further impact on specific credits regarding operations, profitability, insurance coverage, and damage expense due to Wilma will be addressed by Fitch as the information becomes available.

Acute Care:

BRCH Corp. and affiliates (400-bed acute-care hospital located in Boca Raton, FL): Management reports that the hospital is fully operational for all inpatient and outpatient services including both elective and non-elective surgery. Management has not reported to Fitch the total damage cost due to Wilma and Fitch will release any new information as it becomes available. Fitch rates the outstanding bonds listed below at 'A-'; Rating Outlook Stable:

-- $98,475,000 Palm Beach County Health Facilities Authority hospital revenue and refunding bonds, series 2001 (BRCH Corporation obligated group) 'A-';

-- $31,360,000 Palm Beach County Health Facilities Authority hospital revenue and refunding bonds, series 1999A (BRCH Corporation obligated group) 'A-';

-- $19,175,000 BRCH Corporation taxable variable-rate demand bonds, series 1999, not rated.

Health First, Inc. (three acute-care hospitals located in Cocoa Beach, Melbourne, and Palm Bay, as well as primary care clinics and several other entities): All the hospitals maintained power during Wilma and sustained limited damage; management has no plans to submit insurance claims. Fitch rates Health First's outstanding $23.9 million Cape Canaveral Hospital District, FL, revenue refunding certificates, series 1998 at 'A+'; Rating Outlook Stable:

Miami Children's Hospital (252-bed children's hospital in Miami): The main hospital campus, South Dade Center, Dan Marino Center, and all physician offices within the hospital are fully operational. The hospital estimates that total damage expense should be approximately $300,000 and management will be seeking restitution from its insurance carriers and will also be filing a claim with FEMA. Fitch rates Miami Children's Hospital's outstanding $141 million Dade County Health Facilities Authority hospital revenue refunding bonds, series 2001 (Miami Children's Hospital Project) underlying rating at 'A-'; the Rating Outlook is Positive. The bonds are insured by Ambac Assurance Corp., whose insurer financial strength is rated 'AAA' by Fitch;

Mount Sinai Medical Center of Greater Miami, Inc. (two-hospital 935-licensed bed acute care provider in Miami): During Wilma the hospital campus and Miami Heart Institute did lose power and were powered by generator power without incident. Currently both campuses are fully operational. Management has not reported to Fitch the total damage cost due to Wilma and Fitch will release any new information as it becomes available. Fitch rates the outstanding bonds listed below at 'BB+'; Rating Outlook Positive:

-- $104 million City of Miami Beach Health Facilities Authority hospital revenue bonds, series 2004 (Mount Sinai Medical Center of Florida);

-- $82.2 million City of Miami Beach Health Facilities Authority hospital revenue bonds, series 2001A (Mount Sinai Medical Center of Florida);

-- $95.8 million City of Miami Beach Health Facilities Authority hospital revenue bonds, series 1998 (Mount Sinai Medical Center of Florida).

North Broward Hospital District (four-campus, 1,231 staffed bed provider located in Broward County, FL): According to the North Broward Hospital district web site 'www.browardhealth.org', which is updated through Nov. 7, 2005, nearly all of the North Broward Hospital District facilities have resumed normal operations. The only changes are at the Comprehensive Care Center and Clinica de las Americas, where they are relocating temporarily due to hurricane damage. The hospital is still trying to determine the exact damage amount but they do estimate that systemwide the total cost will be approximately $1 million. The hospital has full property coverage and has engaged a forensic accountant to help determine the lost income due to the storm. Fitch rates the outstanding bonds listed below at 'A-'; Rating Outlook Stable:

-- $71.5 million North Broward Hospital District refunding revenue bonds, series 2005A; the bonds are insured by MBIA Insurance Corp, whose insurer financial strength is rated 'AAA' by Fitch;

-- $176.4 million North Broward Hospital District revenue bonds, series 1997;

-- $99.3 million North Broward Hospital District revenue bonds, series 2001.

Parrish Medical Center (220-licensed-bed hospital in Titusville, FL): Management reported to Fitch that damage due to Wilma was negligible and operations were only disrupted at an outpatient diagnostic center. The hospital is currently fully operational. Fitch rates the outstanding bonds listed below at 'A+'; Rating Outlook Stable:

-- $32.2 million North Brevard County Hospital District auction-rate revenue bonds (Parrish Medical Center Project), series 2005. The 'A+' is an underlying rating. The series 2005 bonds are insured by CIFG, whose insurer financial strength is rated 'AAA' by Fitch;

-- $56.2 million North Brevard County Hospital District auction-rate revenue bonds, series 2000. The 'A+' is an underlying rating. The 2000 bonds are insured by Ambac Assurance Corp., whose insurer financial strength is rated 'AAA' by Fitch.

Non-acute Care:

Moorings, Inc. (continuing care retirement community (CCRC) with 336 residential/independent living units, 43 assisted-living units, and 106 nursing care beds, located in Naples, FL): As Fitch previously reported, The Moorings is fully operational after suffering some wind and water damage and a temporary loss of power due to Wilma. The Moorings was releasing information at the web site 'www.mooringspark.info/index', which is currently undergoing construction as there is no further information to provide. Management has not reported to Fitch the total damage cost due to Wilma and Fitch will release any new information as it becomes available. Fitch rates the Moorings outstanding $20 million Collier County Health Facilities Authority health facility revenue bonds (The Moorings, Incorporated), series 2000 bonds listed at 'A'; Rating Outlook Stable;

ACTS Retirement-Life Communities, Inc. (Nationwide CCRC system with six campuses in Florida): ACTS reported no evacuations, no injuries, and that currently all communities are fully operational. Most of the damage done by the storm was limited to the grounds and debris and is estimated to be approximately $500,000-$750,000. Management has no intention of filing any insurance claim as the landscaping damage incurred is below their deductible. Fitch rates the outstanding bonds listed below at 'A-'; Rating Outlook Stable:

-- $4,500,000 Gainesville and Hall County Development Authority (State of Georgia) senior living facility variable-rate demand revenue bonds (Lanier Village Estates, Inc. Project) series 2003A (1) ;

-- $38,500,000 Gainesville and Hall County Development Authority (State of Georgia) senior living facility variable-rate demand revenue bonds (Lanier Village Estates, Inc. Project) series 2003B (2) ('A-' underlying rating);

-- $8,150,000 Gainesville and Hall County Development Authority (State of Georgia) senior living facility variable-rate demand revenue bonds (Lanier Village Estates, Inc. Project) series 2003C (3);

-- $20,000,000 ACTS Retirement-Life Communities, Inc. taxable corporate obligation variable-rate demand revenue bonds series 2003A (1);

-- $16,150,000 Montgomery County Industrial Development Authority (PA) retirement community variable-rate demand revenue bonds, series 2002 (2) ('A-' underlying rating);

-- $32,500,000 Gainesville and Hall County Development Authority (GA) senior living facility variable-rate demand revenue bonds series 1999A (1) ;

-- $14,000,000 Gainesville and Hall County Development Authority (GA) senior living facility revenue bonds, series 1999c final term bond ;

-- $70,000,000 Montgomery County Industrial Development Authority (PA) retirement community revenue bonds series 1998;

-- $14,555,000 Palm Beach County Health Facilities Authority retirement community revenue bonds series 1998;

-- $19,805,000 Montgomery County Industrial Development Authority (PA) retirement community revenue bonds series 1996A;

-- $51,315,000 Montgomery County Industrial Development Authority (PA) retirement community revenue bonds series 1996B;

-- $24,215,000 Palm Beach County Health Facilities Authority retirement community revenue bonds series 1996;

-- $23,435,000 North Carolina Medical Care Commission retirement community variable-rate demand revenue bonds series 1996 (2) ('A-' underlying rating).

(1) This is an underlying rating. These bonds are backed by an irrevocable direct pay letter of credit from Bank of America, N.A., which is rated 'AA-' by Fitch.

(2) These bonds are insured by Radian Asset Assurance (rated 'AA' by Fitch) with a standby bond purchase agreement from LaSalle Bank National Association (rated 'AA-' by Fitch) as the liquidity facility.

(3) This is an underlying rating. These bonds are backed by an irrevocable direct pay letter of credit from Allied Irish Banks, p.l.c., New York Branch, which is rated 'AA-' by Fitch.

Fitch will continue to monitor the progress of these credits and will provide further updates as needed.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 'www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.