Moody's gives A2 to Wayne County Airport, Mich., bonds

Moody's Investors Service said it assigned an A2 underlying rating to the Wayne County Airport Authority, Mich.'s $145 million of series 2008A airport revenue refunding bonds.

The authority operates Detroit Metropolitan Airport and Willow Run Airport in Detroit.

Sale of the bonds is expected on April 28.

Moody's also said it affirmed the A2 rating on the authority's parity senior-lien revenue bonds and the A3 rating on the authority's junior-lien bonds issued earlier this year.

The series 2008A bonds are expected to be insured by a provider rated by Moody's. Subject to a review of the insurance policy, the bonds will carry the financial strength rating of the insurer.

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