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Moody's assigns Aaa/VMIG1 to Northeastern University, Mass., bonds
Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to Massachusetts Health and Educational Facilities Authority's variable-rate demand revenue bonds, (Northeastern University issue), $87.2 million series Q (2008).
Sale of the bonds was expected on May 28.
The bonds are supported by a letter of credit provided by Bank of America, NA, rated Aaa for its long-term bank deposits and Prime-1 for its short-term bank deposits. Moody's currently maintains an underlying rating of A2 on Northeastern University.
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