Moody's gives Vanderbilt University, Tenn., bonds Aa2

Moody's Investors Service said it assigned ratings of Aa2 to Vanderbilt University's $354 million of series 2008 A, 2008 B and 2008 C revenue refunding bonds to be issued by the Health and Educational Facilities Board of the Metropolitan Government of Nashville and Davidson County, Tenn.

The issue includes $178 million of series 2008 A, $137 million of series 2008 B and $39 million of series 2008 C. Sale of the bonds is expected on March 26.

Moody's said it revised the outlook to positive from stable.

At the same time, Moody's said it revised the rating on the university's 2005 B1 bonds to Aa2/VMIG 1 from Aa2 in connection with a change from flexible mode to term mode that is expected to occur on April 1.

Moody's also said it affirmed the Aa2, P1 and VMIG 1 ratings on the university's outstanding rated debt.

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