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Moody's rates University of Md. Medical bonds Aaa/VMIG1
Moody's Investors Service said it assigned an Aaa/VMIG1 rating to the $40.705 million series 2008G and $37.04 million series 2008H revenue bonds issued by the Maryland Health and Higher Educational Facilities Authority for the University of Maryland Medical System.
The sale date was July 29.
The rating is based on letters of credit from Wachovia Bank NA for series 2008G and Manufacturers and Traders Trust Co. for series 2008H. Moody's rates Wachovia Aa2 for its long-term obligations and P-1 for its short-term obligations, and Manufacturers and Traders Trust Co. is rated A1/P-1. Moody's maintains an underlying rating of A3 on the University of Maryland Medical System.
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