Moody's assigns A3 ratings to University of Md. Medical System bonds

Moody's Investors Service said it assigned A3 ratings to the University of Maryland Medical System's $88.2 million series 2008F fixed-rate bonds, $40.705 million series 2008G variable-rate demand bonds and $37.04 million series 2008H variable-rate demand bonds to be issued through the Maryland Health and Higher Educational Facilities Authority. The outlook remains stable.

The expected sale date is July 9 for series 2008F bonds and July 28 for the series 2008G and H bonds.

The series 2008G and H bonds are expected to be supported by letters of credit from Wachovia Bank NA and Manufacturers and Traders Trust Co., respectively. Moody's will assign primary ratings based on the letters of credit.

Proceeds will be used to refund the outstanding series 2004A-D bonds and to pay issuance costs.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.