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Moody's rates Denver airport bonds Aaa/VMIG1
Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to the City and County of Denver Department of Aviation airport system revenue bonds, series 2008B.
Sale of the $85 million bond offering was expected on June 30.
The long-term rating reflects Moody's approach to rating jointly supported transactions and is based in part upon the letter of credit provided by Wachovia Bank NA.
The bank is rated Aa1 for its long-term bank deposits and Prime-1 for its short-term bank deposits. Moody's maintains a rating of A1 on the City and County of Denver Department of Aviation.
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