Moody's rates Spectrum Health, Mich., bonds Aa3, Aa3/VMIG1

Moody's Investors Service said it assigned an Aa3 underlying rating to Spectrum Health's $75 million of variable-rate revenue and refunding bonds, series 2008B-1, and Aa3/VMIG1 ratings to its $112.5 million of series 2008B-2 and $50 million of series 2008B-3 variable-rate demand bonds, all to be issued through the Kent Hospital Financing Authority, Mich.

Moody's also said it affirmed the Aa3 unenhanced and Aa3 underlying rating on $205 million of parity debt to remain outstanding after the sale of the series 2008A and 2008B bonds.

The outlook is stable.

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