Moody's rates Clark County, Nev., airport bonds Aaa/VMIG 1

Moody's Investors Service said it assigned ratings of Aaa/VMIG 1 to $122.865 million of Clark County, Nev.'s Airport System subordinate-lien revenue bonds, series 2008D-3.

The bonds will be supported by an irrevocable direct-pay letter of credit provided by Bayerische Landesbank (BLB). Moody's rates BLB Aa2 for its long-term obligations and P-1 for its short-term obligations. The outlook on the long-term rating of the bank is stable.

The expected sale date for the bonds is March 27.

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