Moody's rates Scott & White Memorial Hospital, Texas, bonds Aaa/VMIG1

Moody's Investors Service said it assigned ratings of Aaa/VMIG1 to Tarrant County Cultural Education Facilities Finance Corp.'s hospital revenue bonds (Scott & White Memorial Hospital and the Scott, Sherwood and Brindley Foundation), series 2008-1 ($84.775 million), series 2008-2 ($93.3 million) and series 2008-3 ($55.275 million).

Sale of the bonds is expected on June 10.

The series 2008-1 bonds are supported by the letter of credit provided by Bank of America, NA, rated Aaa for its long-term bank deposits and Prime-1 for its short-term bank deposits; the series 2008-2 bonds are supported by the LoC provided by and JPMorgan Chase Bank, NA; and the series 2008-3 bonds are supported by the LoC provided by Compass Bank. Moody's currently maintains a rating of Aa3 on Scott & White.

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