Moody's gives Conway Hospital, S.C., bonds VMIG1 rating

Moody's Investors Service said it affirmed the long-term rating assigned to $50 million of South Carolina Jobs-Economic Development Authority hospital revenue bonds (Conway Hospital Inc. Project), series 2007, at Aaa and assigned a short-term rating of VMIG1.

The short-term rating is in anticipation of the conversion of the bonds from the auction-rate mode to the daily rate mode and the delivery of a liquidity facility in the form of a standby bond purchase agreement provided by Wachovia Bank NA, scheduled for May 15.

The long term portion of the rating is based upon the bond insurance policy provided by Assured Guaranty Corp. currently in place.

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