Moody's gives VMIG1 to Lehigh County, Pa., hospital bonds

Moody's Investors Service said it affirmed the Aaa long-term rating of the Lehigh County General Purpose Authority's $56.95 million hospital revenue bonds (Lehigh Valley Health Network Project), series 2005A, and assigned the bonds a short-term rating of VMIG1.

The assignment of the short-term rating is in connection with the delivery of a standby bond purchase agreement provided by Wachovia Bank NA to support purchase price payments on the bonds and the conversion of the bonds to a weekly mode from an auction-rate mode.

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