Moody's gives VMIG1 rating to Stanford Hospital, Calif., bonds

Moody's Investors Service said it assigned a short-term VMIG1 rating to $101.2 million in California Health Facilities Financing Authority revenue bonds, 2003 series C and 2003 series D, issued for Stanford Hospital and Clinics, and affirmed its long-term Aaa rating.

The action was taken in conjunction with the delivery of a standby bond purchase agreement from Dexia Credit Local and the conversion of the bonds to a weekly rate mode from the auction-rate mode. The conversion is scheduled for June 10 for series C and June 17 for series D.

Dexia is rated Aa1 for long-term obligations and P-1 for short-term obligations by Moody's.

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