S&P rates University of Pittsburgh Medical bonds AA-

Standard & Poor's said it assigned an AA- standard long-term rating to Allegheny County Hospital Development Authority, Pa.'s $250 million series 2008B revenue bonds due 2038 issued for the University of Pittsburgh Medical Center.

The agency affirmed its AA- standard long-term and underlying ratings.

The outlook is stable.

Proceeds from series 2008B bond will be used to redeem the issuer's 1992B, 1998A and 2002C bonds as well as the series 1998 bonds originally issued for Canterbury Place. Half the proceeds will be used to help fund the hospital's capital program.

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