Moody's rates Childrens Hospital bonds Aaa/VMIG1

Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to the $150 million series 2008A, 2000B and 2008C California Statewide Development Authority bonds issued for Childrens Hospital Los Angeles.

The expected sale date is July 23 for the three series of $50 million each.

The rating is based on a letter of credit provided by Bank of America NA, which Moody's rates Aaa for its long-term obligations and Prime-1 for its short-term obligations.

Proceeds will be used to refund prior bonds.

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