Fitch Rates Partners HealthCare's (MA) Series K-1 and K-2 Bank Bonds 'AA'

Fitch Ratings assigns an 'AA' rating to bank bonds corresponding to the following:

--$50 million Massachusetts Development Finance Agency revenue bonds, Partners HealthCare System Issue, series K-1;

--$50 million Massachusetts Development Finance Agency revenue bonds, Partners HealthCare System Issue, series K-2.

The 'AA' long-term rating on outstanding parity debt is affirmed, as is the 'F1+' short-term rating on obligations supported by internal liquidity. The Rating Outlook is Stable.

The long-term rating is being assigned in connection with the planned issuance of the above-referenced bonds, which are expected to be supported by standby bond purchase agreements provided by Wells Fargo Bank and Barclays Bank, for series K-1 and K-2, respectively. The rating reflects the overall credit profile of Partners HealthCare System, and includes an assessment of the factors associated with potential bank bonds.

For more information, see the see the press release dated Dec. 9, 2010, available on Fitch's website at www.fitchratings.com.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Revenue-Supported Rating Criteria', dated Oct. 8, 2010;

--'Nonprofit Hospitals and Health Systems Rating Criteria', dated Dec. 29, 2009;

--'Partners HealthCare System, Inc.', dated Dec. 20, 2010.

For information on Build America Bonds, visit 'www.fitchratings.com/BABs'.

Applicable Criteria and Related Research:

Revenue-Supported Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=564565

Nonprofit Hospitals and Health Systems Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=493186

Partners HealthCare System, Inc. (Massachusetts Development Finance Agency, Massachusetts Health and Educational Facilities Authority)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=586725

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