Moody's assigns Aa3/VMIG1 to Saint Joseph's University bonds

Moody's Investors Service said it assigned a rating of Aa3/VMIG1 to the $80.3 million series B of 2008 revenue bonds issued by the Pennsylvania Higher Educational Facilities Authority for Saint Joseph's University.

The expected sale date is July 24.

The rating is based on a letter of credit provided by Citizens Bank of Pennsylvania, which Moody's rates Aa3 for its long-term obligations and Prime-1 for its short-term obligations.

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