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Moody's rates AHS Hospital, N.J., bonds Aaa/VMIG1
Moody's Investors Service said it assigned a Aaa/VMIG1 rating to the New Jersey Health Care Facilities Financing Authority revenue bonds, AHS Hospital Corp. issue, series 2008B and series 2008C (variable rate) in conjunction with the delivery of irrevocable direct pay letters of credit by Bank of America NA for series 2008B and by JPMorgan Chase Bank for series 2008C.
Sale of the $88.555 million series 2008B bonds and $88.555 million series 2008C bonds is expected on May 14.
Bank of America is rated Aaa/VMIG1 and JPMorgan Chase Aaa/VMIG1 for long-term/short-term deposits, respectively, by Moody's. The underlying rating on the series 2008C and series 2008C bonds is A1.
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