Moody's gives Aaa/VMIG1 to Calif. Academy of Sciences bonds

Moody's Investors Service said it assigned ratings of Aaa/VMIG1 to the California Infrastructure and Development Bank's $287.89 million variable-rate demand revenue bonds issued for the California Academy of Sciences, including $95.605 million series 2008A, $60.165 million series 2008B, $48.29 million series 2008C, $34.52 million series 2008D, $24.655 million series 2008E and $24.655 million series 2008F.

The expected sale date is July 28.

The ratings are based on letters of credit from U.S. Bank, NA; Allied Irish Banks, plc; the Bank of Nova Scotia, City National Bank, Northern Trust and Wells Fargo Bank, NA. Moody's rates U.S. Bank and Bank of Nova Scotia Aa1, Allied Irish Banks Aa2, City National Bank and Northern Trust Co. Aa3 and Wells Fargo Bank Aaa for their long-term obligations. Moody's rates each of the banks Prime-1 for their short-term obligations. Moody's currently maintains a rating of A2 on the California Academy of Sciences.

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