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Moody's rates Lehigh Valley Health, Pa., bonds Aaa/VMIG1
Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to $95.59 million in general purpose hospital revenue bonds to be issued by the Lehigh County Authority, Pa., for the Lehigh Valley Health Network Project, series 2008B.
The expected sale date is June 4.
The long-term portion of the rating is based upon a bond insurance policy issued by Assured Guaranty Corp. The short-term portion of the rating is derived from the credit quality of Bank of America, NA, provider of the standby bond purchase agreement.
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