Moody's rates Shands Teaching Hospital bonds A2

Moody's Investors Service said it assigned an A2 rating to Shands Teaching Hospital and Clinics, Inc.'s series 2008A ($75 million) and series 2008B ($50 million) bonds to be issued by Alachua County Health Facilities Authority. The outlook is stable.

Sale of the bonds is expected on June 30.

The series 2008A and B bonds will be secured by a letter of credit from Bank of America and is rated Aaa/VMIG1.

The bond proceeds will be used to refund the series 2007C and 2007D bonds.

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