Moody's gives underlying Aa3 to Maine bonds

Moody's Investors Service said it assigned an Aa3 underlying rating to Maine Health and Higher Educational Facilities Authority's $133.08 million of series 2008A and B variable-rate revenue bonds to be issued under the Reserve Fund Resolution.

The issue included $107.14 million of series 2008A and $25.94 million of series 2008B. The bonds are expected to be variable-rate demand obligations supported by a letter of credit from KBC Bank.

Series 2008A and 2008B are expected to sell on May 15 and June 17, respectively.

Moody's also said it affirmed the Aa3 underlying rating on the authority's approximately $1.4 billion of outstanding debt.

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