Moody's gives Aaa/VMIG1 to Shands health facilities bonds

Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to the $75 million series 2008A and $50 million series 2008B health facilities revenue refunding bonds issued by Alachua County Health Facilities Authority, Fla., for Shands Teaching Hospital & Clinics, Inc.

The expected sale date is June 30.

Proceeds will be used to retire the authority's series 2007C & D bonds.

The rating is based on a letter of credit from Bank of America, NA, rated Aaa for long-term deposits and P-1 for short-term deposits. Moody's rates Shands A2.

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