Moody's rates Methodist Le Bonheur, Tenn., notes Aaa/VMIG1

Moody's Investors Service said it assigned Aaa/VMIG1 ratings to $270 million variable-rate revenue bonds issued by the Health, Educational and Housing Facility Board of the County of Shelby, Tenn., for the Methodist Le Bonheur Healthcare Project.

The expected sale date is June 11. Series 2008A and 2008B will each be worth $135 million.

The long-term portions of the ratings are based on bond insurance policies provided by Assured Guaranty Corp. The short-term ratings are derived from the credit quality of U.S. Bank, NA, which provided standby bond purchase agreements. Moody's long- and short-term ratings for U.S. Bank are Aa1 and Prime-1, respectively.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.