Moody's rates Indiana University of Pa. bonds Aa2/VMIG1

Moody's Investors Service said it assigned a rating of Aa2/VMIG1 to the Pennsylvania Higher Educational Facilities Authority's $73.75 million of variable-rate demand bonds, series 2008 (Foundation for Indiana University of Pennsylvania student housing project at Indiana University of Pennsylvania).

The rating reflects a letter of credit from Citizens Bank of Pennsylvania, which is rated Aa2/P-1 with the long-term rating on review for possible downgrade.

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