Moody's gives Aa2/VMIG1 to Port of Seattle bonds

Moody's Investors Service said it assigned a rating of Aa2/VMIG1 to the Port of Seattle, Wash.'s subordinate-lien revenue refunding bonds, series 2008.

The issuer is expected to sell $200.7 million of the bonds on June 13.

The rating is based in part upon the irrevocable, direct-pay letter of credit provided by Landesbank Hessen-Thuringen. Moody's currently rates Landesbank Hessen-Thuringen Aa2 for its long-term obligations and P-1 for its short-term obligations.

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