Fitch Confirms Chelan County PUD Series 2008B Ratings at 'AA+/F1+'

NEW YORK--(Business Wire)--
Fitch Ratings confirms the long- and short-term ratings of 'AA+/F1+' on Chelan
County Public Utility District No. 1, WA's (the district) $92.88 million
variable-rate consolidated system revenue bonds refunding series 2008B. This
confirmation is in conjunction with the district's plan to convert these bonds
from alternative minimum tax (AMT) status to non-AMT upon the next remarketing
date of June 3, 2009. The district is pursuing this conversion for the sole
purpose of converting the federal tax status on interest paid on the remarketed
bonds as allowed under the recently enacted American Recovery and Reinvestment
Act of 2009. The final maturity, amortization, and liquidity facility (as
provided by U.S. Bank, National Association) all remain the same. The conversion
to non-AMT status, in and of itself, will not have an impact on the district's
long- or short-term ratings.

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.

Fitch Ratings, New York
Lina Santoro, 212-908-0522
Trudy Zibit, 212-908-0689
or
Media Relations:
Cindy Stoller, 212-908-0526
Email: cindy.stoller@fitchratings.com

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