Moody's rates Cornell, N.Y., bonds Aa1/VMIG1

Moody's Investors Service said it assigned an Aa1/VMIG1 rating to Cornell University, N.Y.'s $130 million of series 2008 B and C variable-rate demand bonds to be issued through the Dormitory Authority of the State of New York.

The bonds will be supported by a standby bond purchase agreement provided by Bank of America.

Sale of the 2008 B and C bonds is expected on April 10.

Moody's also said it affirmed the ratings on all of Cornell's rated debt.

The outlook is stable.

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