Moody's assigns Aaa/VMIG1 rating to Edward Hospital, Ill., bonds

Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to Illinois Finance Authority's $126.22 million variable-rate demand revenue refunding bonds (Edward Hospital Obligated Group).

Series 2008B-1 and 2008B-2 total $56.6 million each; and series 2008C totals $13.02 million. The bonds were to be sold May 29.

The rating is based on a letter of credit provided by JPMorgan Chase Bank, NA, which is rated Aaa for its long-term bank deposits and Prime-1 for its short-term bank deposits. Moody's currently maintains a rating of A2 on Edward Hospital.

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