Moody's gives Tuscaloosa, Ala., bonds Aaa/VMIG 1

Moody's Investors Service said it assigned a rating of Aaa/VMIG 1 to the Tuscaloosa County Industrial Development Authority, Ala.'s $75 million of gulf opportunity zone bonds (Hunt Refining project), series 2008A and series 2008B.

The issue includes $50 million of series 2008A (tax-exempt) and $25 million of series 2008B (taxable). Sale is expected on March 27.

The rating is based on two irrevocable, direct-pay letters of credit provided by JPMorgan Chase Bank, NA, which is rated Aaa for its long-term obligations and Prime-1 for its short-term obligations.

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