1.   Except for a small amount of A-rated subordinated debt, the whole issue is rated triple-A by the major bond houses.

2.   The serial bonds are insured by Financial Guaranty Insurance Co. and are rated triple-A by the rating agencies.

3.   Those securities are rated triple-A as a result.

4.   While Sitca has no rating, the bonds are rated triple-A, because they are guaranteed by triple-A rated MBIA Insurance Co.