Moody's rates Doctors Community Hospital, Md., bonds Baa2

Moody's Investors Service said it assigned a Baa2 underlying rating to Doctors Community Hospital's $59.17 million of series 2008 variable-rate demand bond revenue bonds to be issued through the Maryland Health and Higher Educational Facilities Authority.

Sale of the bonds is expected on May 21.

Moody's also affirmed the hospital's existing Baa2 rating, affecting about $77 million of existing rated revenue bonds. The outlook remains stable.

The series 2008 bonds are expected to be supported by an irrevocable direct-pay letter of credit from UBS AG, which is expected to be rated separately.

Previously, the hospital was expected to issue the series 2008 bonds as fixed-rate debt.

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