Moody's rates University of Chicago bonds Aa1/VMIG1

Moody's Investors Service said it assigned an Aa1/VMIG1 rating to the University of Chicago's $123.604 million of adjustable-rate revenue bonds, series 2008, issued through the Illinois Finance Authority.

The bonds will initially be issued in weekly mode with the tender features supported by a standby bond purchase agreement from Bank of America, NA, which is rated Aaa/P-1.

At the same time, Moody's said it affirmed the current ratings for the university.

The outlook is stable.

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