Moody's assigns Aa2/VMIG1 to Avera Health bonds

Moody's Investors Service said it assigned a rating of Aa2/VMIG1 to the $61.495 million of South Dakota Health and Educational Facilities Authority's variable-rate demand revenue bonds, series 2008C, issued for Avera Health.

Sale of the bonds is expected on June 30.

The rating is based in part upon the letter of credit provided by Allied Irish Banks plc. The bank is rated Aa2 for its long-term bank deposits and Prime-1 for its short-term bank deposits. In addition, Moody's maintains an underlying rating of A1 on Avera Health.

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