The Massachusetts Health and Educational Facilities Authority within the next two weeks will convert $150 million of auction-rate Partners HealthCare System debt into variable-rate mode backed by the health care provider's own liquidity.

The auction-rate securities comprise Series 2003D-1 for $71 million and Series 2003D-2 for $79 million. The interest rates on both series reset every 35 days. Series 2003D-1 will convert on March 12 to a daily variable-rate mode, while Series 2003D-2's interest rate will fluctuate on a weekly basis beginning March 5, according to Debra Sloan, director of capital markets at Partners.

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