Moody's assigns Aa3/VMIG 1 to Louisiana's II City Plaza bonds

Moody's Investors Service said it gave an Aa3/VMIG 1 rating to the Louisiana Public Facilities Authority's $60 million of revenue bonds (II City Plaza LLC Project), series 2008.

Sale of the bonds was expected on Tuesday.

The rating is based on an irrevocable direct-pay letter of credit provided by Regions Bank. The bank is rated Aa3 for its long-term obligations and P-1 for its short-term obligations.

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