Moody's lifts Adena Health, Ohio, bonds to A1/VMIG1

Moody's Investors Service said it upgraded the rating to A1/VMIG1 from A1/VMIG2 on County of Ross, Ohio's variable-rate hospital facilities revenue refunding and improvement bonds (Adena Health System project), series 2006, affecting $83.83 million of debt.

The bonds are currently supported by insurance from CIFG Assurance North America, Inc. and a standby bond purchase agreement (SBPA) from Landesbank Hessen-Thuringen Girozentrale.

The upgrade is in connection with a temporary amendment to the SBPA. For 270 days beginning May 1, the SBPA cannot be automatically terminated or suspended because of certain events of default.

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