Moody's rates Emory University, Ga., bonds Aa2

Moody's Investors Service said it assigned Aa2/VMIG1 ratings to Emory University's $96 million series 2008A revenue bonds and an Aa2 rating to its series 2008B and 2008C bonds, at $100 million and $120 million, respectively. All series will be issued through the Georgia Private Colleges and Universities Authority.

The expected sale date is June 11.

Moody's also affirmed its existing Aa2 ratings on prior debt. The outlook is positive.

Proceeds from the series 2008 revenue bonds will fund construction and improvement of capital facilities of the university, refund some commercial paper notes outstanding, refund the series 1997A bonds, and pay issuance costs.

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