Moody's assigns Aaa to M.I.T. bonds

Moody's Investors Service said it assigned a rating of Aaa to Massachusetts Institute of Technology's $319.085 million series N bonds to be issued through the Massachusetts Health and Educational Facilities Authority. The outlook is stable.

The expected sale date is July 23.

Proceeds will be used to fund capital projects, including a new facility for the Koch Institute for Integrative Cancer Research and a new graduate student residence, as well as to refinance a bank line drawn for capital projects during the past year.

Moody's also affirmed its Aaa and Aaa/VMIG1 ratings on M.I.T.'s previously issued bonds.

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