Moody's gives VMIG1 to Integris Health, Okla., bonds

Moody's Investors Service said it assigned a short-term rating of VMIG1 to the Oklahoma Development Finance Authority's health system variable-rate demand revenue and refunding bonds series 2007A issued for Integris Health Obligated Group, affecting $151.95 million of debt.

At the same time, Moody's said it affirmed the Aaa rating on the bonds.

The actions were taken in connection with the delivery of standby bond purchase agreements for the bonds, from KBC Bank NV for subseries A-1 and A-2 and from JPMorgan Chase Bank, NA for subseries A-3. The bonds were simultaneously converted to weekly variable-rate from auction-rate.

KBC and JPMorgan are rated Aa2/P-1 and Aaa/P-1, respectively.

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