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Moody's assigns Aaa/VMIG1 to University of Md. bonds
Moody's Investors Service said it assigned Aaa/VMIG1 ratings for Maryland Health and Higher Educational Facilities Authority revenue bonds (University of Maryland Medical System issue), series 2008A through 2008E.
The rating is based upon letters of credit provided by Citizens Bank of Pennsylvania (for series 2008A bonds), Bank of America, NA (for series 2008B bonds), PNC Bank (for series 2008C bonds) and SunTrust Bank (for series 2008D and series 2008E bonds).
The issuer expected to sell $50 million series 2008A, $75 million 2008B, $50 million 2008C, $50 million 2008D and $55 million 2008E bonds, all on May 30.
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