Moody's assigns A2 to Laguna Honda hospital bonds

Moody's Investors Service said it assigned an A2 rating to the City and County of San Francisco's $123.91 series 2008-R3 general obligation refunding bonds issued for Laguna Honda Hospital.

The expected sale date is July 16.

Proceeds will be used to refund a portion of the city's outstanding debt, converting it from variable to fixed rate.

Moody's also affirmed the Aa3 ratings on the city's outstanding general obligation bonds. The outlook remains cautiously positive.

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