Moody's gives A2 to Metro Nashville Airport bonds

Moody's Investors Service said it assigned an A2 underlying rating to $68.4 million of Metropolitan Nashville Airport Authority airport improvement variable-rate demand revenue refunding bonds, series 2008A&B.

The outlook is negative.

Sale of the bonds is expected on June 10.

The series 2008A bonds will provide funds to refund $37.6 million of the authority's outstanding airport improvement revenue bonds, adjustable-rate refunding series 1993. The series 2008B bonds will provide about $3.1 million to develop, construct and equip a portion of the airport's terminal renovation project and refund about $27.1 million of the authority's outstanding airport improvement revenue bonds, adjustable-rate series 2006 and series 2007A.

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