Moody's gives A2 to Orlando health care bonds

Moody's Investors Service said it assigned an A2 rating to Orlando Regional Healthcare System's series 2008D ($54.1 million), series 2008E ($54.1 million), series 2008F ($35.5 million) and series 2008G ($35.5 million) variable-rate demand bonds to be issued by the Orange County Health Facilities Authority.

The expected sale date is June 19. The outlook is stable. Moody's also affirmed the A2 ratings on the system's existing debt.

The bonds will be supported by a letter of credit from SunTrust Bank, which will be rated separately.

Proceeds will refinance the system's series 1999A-C bonds, pay swap termination fees and pay the costs of issuance.

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