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Moody's rates Thomas Jefferson University, Pa., bonds A1
Moody's Investors Service said it assigned an A1 underlying rating to Thomas Jefferson University's $25 million of revenue bonds, series 2008A, and $46.55 million of revenue bonds, series 2008B, issued through the Pennsylvania Higher Educational Facilities Authority.
The outlook is stable.
Both series of bonds are expected to sell on March 5.
They will be supported by irrevocable direct-pay letters of credit from JPMorgan Chase Bank, NA. The bank is rated Aaa/P-1. Moody's said it would assign the ratings based on the letter of credit in a separate report.
Moody's also said it affirmed the A1 ratings on the university's outstanding debt.
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