Moody's rates Appalachian Power, W.Va., 2008B bonds Aaa/VMIG1

Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to the West Virginia Economic Development Authority's solid waste disposal facilities revenue refunding bonds (Appalachian Power Co. - Mountaineer Project), series 2008B.

Sale of $50.275 million of series 2008B bonds is expected on June 9.

The bonds are supported by the letter of credit provided by JPMorgan Chase Bank, NA, rated Aaa for its long-term bank deposits and Prime-1 for its short-term bank deposits. Moody's currently maintains a rating of Baa2 on Appalachian Power.

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