Moody's rates Los Angeles museum bonds Aa2/VMIG1, Aaa/VMIG1

Moody's Investors Service said it assigned ratings to the California Infrastructure and Development Bank's $84.4 million of variable-rate demand revenue bonds, (Los Angeles County Museum of Natural History Foundation project), series 2008A and 2008B.

The series 2008A bonds were rated Aa2/VMIG1, and the series 2008B bonds were rated Aaa/VMIG1.

The ratings are based on irrevocable, direct-pay letters of credit provided by Allied Irish Banks, plc and Bank of New York for series 2008A and 2008B, respectively.

Sale of the bonds is expected on April 8.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.