Moody's gives Aaa/VMIG1 to University of Ala. hospital bonds

Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to the Board of Trustees of the University of Alabama's $109.93 million series 2008-B hospital revenue bonds issued for the University of Alabama at Birmingham Hospital Project.

The university expects to sell the bonds on July 10.

The letter of credit supporting the bonds is being provided by Regions Bank, which is rated A1 for its long-term bank deposits and Prime-1 for its short-term bank deposits. Moody's maintains an underlying rating of A1 on the health care revenue bonds issued by the board.

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