Moody's gives VMIG1 to Meridian Health, N.J., bonds

Moody's Investors Service said it assigned short-term ratings of VMIG1 to the New Jersey Health Care Facilities Financing Authority's $97 million of revenue bonds (Meridian Health System obligated group issue), series 2007, tranche III and IV, in connection with their conversion to a weekly mode from an auction-rate mode.

As the same time, Moody's said it affirmed the Aaa long-term ratings on the bonds.

The ratings reflect standby bond purchase agreements from Bank of America, NA for tranche III and from Wachovia Bank, NA for tranche IV.

Bank of America and Wachovia are rated Aaa/P-1 and Aa1/P-1, respectively.

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